Kevin Warsh Opens First Fed Meeting: What Crypto Traders Must Watch
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If oil prices don't fall, U.S. Treasury yields won't peak
Asian stock markets collectively declined, South Korean stocks plunged 4.5%, Japanese stocks fell over 1%, and SK Hynix dropped 7%.
All major stock indices in South Korea fell by more than 4%, leading declines in Asia-Pacific markets. SK Hynix plunged over 7%, approaching its lowest point since April. Samsung Electronics fell by more than 3%. The Nikkei 225 dropped 1%, and the TOPIX fell by about 0.9%. SoftBank Group plummeted 6.34%. The MSCI Asia-Pacific Index dropped by about 1%, with eight out of eleven sub-industries recording losses; the number of declining stocks was roughly three times that of advancing stocks. Gold extended its overnight losses, falling another 0.34%.
Deja vu? After another blow to the "AI stock god," AI trading sees a rebound
Goldman Sachs has upgraded CoreWeave’s rating, with several analysts expressing strong support for its fundamentals, alleviating fears of "AI capital expenditure peaking." The Philadelphia Semiconductor Index ended its eight-day losing streak and closed up 1.6%. Previously, "AI stock guru" Aschenbrenner suffered severe losses again, with the average decline of his top seven holdings reaching 18.3%.
Wall Street collectively rushes to "extinguish panic" over CoreWeave: Don't use one company to negate the entire AI cycle!
Barclays pointed out that CoreWeave's approximately $1.5 billion unsecured bonds account for a very small portion of its total $35 billion debt, yet the market is treating them as a barometer for the entire AI capital expenditure cycle. This is similar to how, during the 2023 Silicon Valley Bank crisis, the $4 billion regional bank ETF was used to predict a U.S. recession. Goldman Sachs believes that the market is using the wrong benchmark, noting that unsecured bonds do not represent the real incremental financing cost. JPMorgan states that banks' exposure is secured and the risks are controllable.

