Technology Sell-Off Deepens as AI Concerns Persist: Technology shares extended their decline as weakening confidence in the AI trade pushed investors towards safer assets. Earnings from Amazon and Intel revived concerns over elevated capital expenditure, with Amazon shares falling 7.3% in extended trading and the Nasdaq 100 Index declining 1.9%. South Korea’s KOSPI fell 3.5%, while defensive stocks advanced and S&P 500 futures pointed to marginal gains.
Bitcoin Falls Following Potential Exchange Hack: Bitcoin declined 0.5% after the world’s largest cryptocurrency exchange suspended deposits and withdrawals while investigating a potential security breach. The development added to the broader risk-off tone across global markets.
Safe-Haven Demand Supports Treasuries and Swiss Franc: US Treasuries advanced as investors moved towards safe-haven assets, pushing the 10-year yield below 4.93%. The Swiss franc was among the strongest-performing G10 currencies, with USD/CHF falling 0.5% to 0.8225.
Oil Rises on Renewed US-Iran Risks: Brent crude gained 1.9% to trade around $116 a barrel amid signs that the US may resume strikes against Iran. Gold fell below $4,000 an ounce, while the yen held steady after the Bank of Japan left interest rates unchanged.
Key Market Moves Today
- S&P 500 Futures: -0.97% (7,678)
- Crude Oil: +2.00% ($104.06)
- Spot Gold: -0.97% ($3,983)
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