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Markets turned risk-off as AI valuation worries and a crypto rout drove heavy tech selling. The S&P 500 and Nasdaq slid notably while the Dow fell ~340 points; volatility spiked. Nvidia and other AI names led losses, Bitcoin plunged below key support, and investors fretted over earnings and Fed data resumption.
A widespread Cloudflare disruption knocked major web services offline this morning, creating outages at platforms from ChatGPT to X. Engineers say a fix is underway as companies and markets assess the hit to uptime and traffic.
340 – Points the Dow fell, eyeing a fourth straight session of losses.
Equity markets slid as investors reassess the AI rally; tech-heavy indices led declines. Banks and strategists warned of compressed valuations and a broader correction if demand or earnings disappoint.
Google rolled out Gemini 3 across Search and the Gemini app, intensifying the race with OpenAI. CEO Sundar Pichai cautioned investors about irrational exuberance in the AI boom, tempering market optimism.
Medtronic lifts outlook after beat-and-raise quarter
Medtronic topped expectations and raised guidance, signalling durable demand for medical devices and giving healthcare stocks a bright note amid market volatility.
More on wsj.com
Microsoft and Nvidia joined a big financing wave into Anthropic, signaling tighter ties between chipmakers, cloud providers and AI startups. The multimillion- to multibillion-dollar deals underscore intense competition for AI compute capacity.
A federal judge rejected the government’s monopoly claims against Meta, preserving the company’s ownership of Instagram and WhatsApp. The rulings represent a major legal reprieve for Big Tech and shift regulatory leverage.
Amazon stock slides after $15bn bond sale — AI spending scrutiny grows
Amazon’s shares fell after a large bond issuance and renewed questions about AI spending economics, stoking investor doubts about near-term returns on cloud and ambition investments.
More on investors.com
President Trump hosted Saudi Crown Prince Mohammed bin Salman in a lavish White House ceremony as Riyadh pledged major investment in the U.S. Officials signaled potential defense and commercial deals that could reshape ties and markets.
Cryptocurrencies plunged in a broad rout, erasing vast market gains and fueling outflows from ETFs. Large on-chain moves — including nearly $1bn shifted from Mt. Gox wallets — added to volatility and investor unease.
OCC clarifies banks may cover crypto network ‘gas’ fees for permissible activities; EU launches probes to assess whether AWS/Azure should be designated under the DMA; Trump administration accelerates Education Department restructuring and program transfers.
The Cloudflare outage renewed calls for decentralized internet infrastructure and raised questions about single-point failures. Filecoin and other projects unveiled decentralized cloud options as stopgaps for centralized outages.
Home Depot reported weaker sales and cut its outlook, signaling softer consumer spending on big-ticket home projects. The retailer’s warning highlights housing-sector strain and weighs on retail sector sentiment ahead of holiday shopping.
No company is going to be immune if the AI bubble bursts.
— Sundar Pichai
Investors brace for Nvidia’s earnings as analysts debate whether the AI-driven rally can continue. The chipmaker’s results will be read as a barometer for the sector amid shifting investor appetite.
Autonomous taxi services accelerated this week as Amazon’s Zoox and Alphabet’s Waymo expanded public operations. The rollout intensifies competition in the nascent robotaxi market and raises regulatory and infrastructure questions.
Microsoft released new tools to build and govern AI agents, aiming to give enterprises control over autonomous workflows. The moves target risk management and oversight as agentic AI adoption rises.
The OCC clarified that banks may cover crypto-network fees for permissible activities, easing operational friction for regulated firms working with blockchain services. Regulators aim to balance safety with accommodation of fintech innovation.
Federal judges blocked Texas’ new congressional map, ordering a return to earlier lines and upending Republican redistricting plans for 2026. The rulings inject uncertainty into GOP hopes for additional seats.
Rapid AI growth is straining power grids as data-center demand soars, prompting calls for new energy solutions. Utilities and states want proof that planned facilities will secure reliable power without worsening emissions.
Paramount Skydance and other bidders are lining up offers for Warner Bros. Discovery, sparking a bidding frenzy around legacy media assets. Market reaction lifted WBD shares as deal speculation accelerated.
European leaders pushed for a sovereign cloud strategy while Brussels probes whether big US cloud providers should be designated under the DMA. The debate could reshape procurement and cloud competition across the bloc.
Lambda, a provider of AI data-center infrastructure, raised a blockbuster $1.5bn as demand for rented chip capacity surges. The funding underscores investor appetite for companies enabling AI compute at scale.
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