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Markets staged an uneasy recovery after a volatile week: the S&P 500 and Dow closed higher while the Nasdaq bounced from deep tech-led losses. Volatility remains elevated as Nvidia’s earnings and AI narratives clash with crypto outflows and shifting Fed rate expectations; chip, software and energy sectors led the biggest moves.
Nvidia’s blowout results and a concurrent Bitcoin sell-off reshaped market flows this week, prompting a sharp reversal after midweek volatility. Traders are hunting for the root causes of swings as chip earnings and crypto move risk appetite.
$1.2B – Net outflows from spot Bitcoin ETFs this week.
Crypto funds saw heavy outflows as Bitcoin slumped from October highs, dragging sentiment across risk assets. The rout has also reshaped wealth estimates tied to early Bitcoin holders.
A ferocious week of swings left confidence on Wall Street fragile and strategists scrambling to explain the moves. Analysts warned that the rebound may be shallow unless market drivers stabilise.
Ackman readies Pershing Square IPO — dual listing plan
Billionaire Bill Ackman is preparing Pershing Square and a new fund for public listings as soon as early 2026, a move that could spark renewed interest in active manager IPOs.
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Fed governors appear increasingly divided on the next rate decision, opening the prospect of a tied vote at a crucial meeting. That split has amplified uncertainty over whether a December cut is still likely.
Tokyo approved a major fiscal package to jolt a sluggish economy even as markets watch the Bank of Japan for a policy pivot. The stimulus and any BOJ tightening will influence global yields and risk assets.
Tyson to close major beef plant — big supply hit
Tyson Foods will shutter a major U.S. beef-processing plant amid steep losses, a blow to supply chains and a sign of pressure across meat processors facing tight cattle supplies and margin erosion.
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The White House’s 28-point Ukraine peace plan has rattled allies and Kyiv, prompting urgent talks in Geneva to iron out differences. Washington seeks buy-in even as Kyiv warns concessions may risk sovereignty.
European capitals are racing to coordinate a response to the US-backed peace plan for Ukraine, stressing that borders must remain inviolable. A special EU meeting was convened to align strategy ahead of wider diplomacy.
U.S. and allies convene talks on the Trump Ukraine plan; IRS moves to tighten crypto brokerage reporting for 2025 tax returns; Japan unveils a $135B stimulus while tariff and trade tweaks (including a possible Switzerland tariff cut) reshape near-term policy calculus.
Ceasefire fragility returned to the fore as Israel launched fresh strikes in Gaza, resulting in dozens of deaths and mounting casualties. The strikes risk unraveling tenuous pauses and heighten humanitarian strain.
The Israel Defense Forces widened operations against Hezbollah-linked targets in southern Lebanon as regional tensions spike. Israel reported eliminating operatives amid a broader push against cross-border threats.
We’ve been pushed into a no‑win situation by mounting fears of an AI bubble.
— Jensen Huang, Nvidia CEO
Brazil’s legal and political crisis escalated as authorities arrested former president Jair Bolsonaro on allegations tied to an escape plot and evasion of a 27-year sentence. The detention underscored deep national divisions ahead of legal processes.
Health officials recorded a first human fatality from the H5N5 avian strain in Washington state, marking a worrying development for public-health surveillance. Authorities urged vigilance even as broader risk to the public remains low.
Investigations into an infant botulism outbreak linked to ByHeart formula intensified as parents said children fell sick months before the cluster was detected. State and federal probes are expanding to trace contamination and distribution.
The drugmaker Eli Lilly surged into the trillion-dollar market-cap club as GLP-1 drugs dominated investor attention. The milestone highlights the reshaping of pharma valuations driven by obesity and diabetes therapies.
Alphabet’s AI push and Gemini rollout pushed the stock to record highs as investors recalibrated winners in the AI era. The company’s advances have become a focal point for tech leadership debates.
OpenAI leadership signalled a measured response to competitors’ advances while the company pursues hardware partnerships to stay competitive. Strategic memos and manufacturing ties show the race is moving beyond pure software.
Figure AI faces a high-profile whistleblower suit alleging safety lapses at a humanoid-robot startup backed by major chipmakers. The litigation raises fresh scrutiny on AI hardware safety practices.
China’s Moonshot AI is raising large new funding at a multibillion dollar valuation, signalling continued investor appetite for Chinese AI champions. The round would feed global competition for top models and talent.
A major media consolidation move in Britain would combine two influential right-leaning outlets, prompting takeover scrutiny and concentration concerns. The deal reshapes the UK news landscape and could face regulatory review.
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