U.S. markets closed lower as chip stocks declined on concerns the AI-driven rally may be overstretched. Losses in Micron and other semiconductor firms weighed on indices, while rising competition from China and unmet expectations after Samsung’s earnings added pressure. Investors are reassessing valuations amid continued volatility in AI-linked stocks.
US midterms put Trump-era crypto boom and prediction markets at risk
The US midterm elections could threaten the crypto friendly regulatory environment created under President Donald Trump. A potential Democratic takeover of Congress may bring tighter