The Nasdaq and the S&P 500 fell to over one-week lows, dragged down by sharp losses in semiconductor stocks as investors braced for a more hawkish Federal Reserve and scrutinized growing debt-funded AI spending.
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Technology heavyweights and chip stocks tumbled, while Elon Musk’s SpaceX dropped below $2 trillion in market cap for the first time since its U.S. debut.
Russia is considering importing fuel and subsidising it to cap prices as ways to mitigate supply disruptions of gasoline and diesel caused by Ukrainian strikes on oil refineries, the Vedomosti daily reported on Tuesday, citing two unnamed sources.
Globally, just under half a million deaths a year are estimated to be due to excess heat.
New York City Mayor Zohran Mamdani’s push to remake the Democratic Party into a democratic socialist powerhouse faces a primary election test. But win or lose, it is unlikely to provide an effective blueprint for Democrats taking control of the U.S. Congress in November.
China has overtaken the U.S. to win the top spot on a list of the world’s fastest supercomputers, but the results may say more about Beijing’s desire to show self-sufficiency in computing systems than its standing in the global AI race, experts said.
The country has just recorded its hottest afternoon and night since records began in 1947. Fifty-four departments are under red alert in what forecasters described as unprecedented.
A former Israeli prime minister acknowledged on Tuesday that Israel had smuggled Starlink internet receivers into Iran to help anti-government protesters, though he said Prime Minister Benjamin Netanyahu’s government failed to follow through on the plans.
South Korea’s KOSPI plummeted 9.99%, its steepest drop in more than three months, on Tuesday as overseas investors sold chipmakers following regulatory signals that the sector’s rally had gotten overheated.