Finance

Chipmaker and memory stock valuations saw a noticeable contraction, heavily influenced by an overnight plunge of more than 5% in South Korea's KOSPI index. The regional downturn underscored growing structural concerns over intensifying Chinese market competition and softening international valuations.

Wall Street giants including JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo officially initiated the corporate reporting period. While Goldman Sachs reported an impressive 29% surge in year-over-year profit, the collective sector updates generated varied reactions and left the broader blue-chip index in negative territory.

The digital asset landscape witnessed severe volatility, with Bitcoin experiencing rapid price fluctuations between roughly $80,850 and $83,500. This intense trading activity triggered massive liquidations for over 172,000 market participants, primarily catching optimistic long positions off guard as macro risk aversion briefly spiked.