Wall Street closes sharply lower as AI cash-burn fears spark broad tech selloff
Underwhelming hyperscaler results and rising AI capex worries drove the worst Wall Street day since June, with investors rotating into defensive names ahead of
The Straits Times · +15 outlets
Binance resumes phased withdrawals after $6.3 billion hack, says 90% of stolen assets covered
The largest crypto theft on record, blamed on a North Korea-linked group, has renewed scrutiny of exchange custody and wallet safety.
CNBC · +11 outlets
OpenAI pares fundraising goal, now seeking up to $20 billion in latest round
The round remains open and terms could change, signaling investor caution after a period of historically large AI capital raises.
CNBC · +1 outlets
Anthropic IPO filing details $2 trillion ambition as firm quizzes candidates on zeroed-out stock
The filing reveals employee wealth stakes, philanthropy plans and internal AI usage exceeding compensation, with the IPO drawing both investor enthusiasm and sc
Fortune · +10 outlets
Trump defamation suit against Murdoch and WSJ over Epstein letter dismissed with prejudice
The ruling, which bars refiling, closes a case stemming from a 2025 Wall Street Journal article about a birthday letter to Jeffrey Epstein.
CNBC · +14 outlets
Junk debt rout sparks credit investor 'bloodbath' as asset-shifting tactics add fuel
Aggressive moves to move assets beyond creditors' reach are deepening a selloff in lower-rated corporate debt.
Ft
Wall Street is starting to call the shots in America's AI build-out
Financiers are gaining leverage over AI infrastructure spending as capital demands outpace what tech firms can fund internally.
WSJ · +3 outlets
Weil Gotshal to shut down after 95 years following exodus of top talent
The collapse of the Wall Street legal powerhouse is among the most notable law firm wind-downs in decades.
Ft · +11 outlets
Two Fed officials call for more rate hikes, starting soon, as Fed holds
Dissent within the central bank over the policy path is complicating the outlook for markets that had priced in easing.
24/7 Wall St. · +14 outlets
Meta outlook revised to negative by S&P on capex and free cash flow concerns
The ratings action reflects rising pressure on Big Tech balance sheets from heavy AI-related capital spending.
CNBC · +13 outlets
BP posts record $8.46 billion quarterly profit as war-driven oil and refining margins surge
Oil majors are reporting sharply higher refining earnings even as Trump criticizes the industry for making too much money.
CNBC · +14 outlets
Tech layoffs tracker: job losses pile up across Amazon, Microsoft, Meta and Bay Area firms
Fresh cuts at San Francisco companies add to a broad 2026 wave of tech industry job reductions.
Yahoo Tech · +12 outlets
Midterm elections, earnings and jobs data loom for an AI-wary stock market
Investors are weighing election outcomes, tax ballot measures and labor data as the Fed holds rates and AI spending fears persist.
Ft · +13 outlets
Social Security retirement trust fund may run dry in 2032, with benefit cuts at stake
Senators elected in November will be in office when the projected depletion deadline arrives, putting the program's funding in focus.
CNBC · +14 outlets
AI is boosting Meta's ad business while hurting Google search, widening growth gap
The divergence between Meta's ad revenue growth and Google's search expansion was the widest since 2021 in the latest quarter.
CNBC · +11 outlets
Apple's rare Monday earnings report tests new CEO John Ternus amid memory price inflation
Investors will get a first read on how Apple's new leadership is managing cost pressure and softer consumer spending.
MarketWatch · +10 outlets
CPKC urges regulator to end Union Pacific merger review over CEO's shipper remarks
A judge has ordered that speech in which UP's CEO allegedly threatened shippers be made public, intensifying the rail merger fight.
Railway Supply · +1 outlets
Inflation, inequality and debt charts are spooking Wall Street
Rising prices tied to tariffs and record US debt levels are converging to unsettle investors.
Bloomberg.com