Cracks are appearing in the AI-driven stock rally. A sharp selloff in technology shares followed growing doubts about the trade’s staying power.
The pullback hit major tech names that had powered markets higher. Investors questioned whether AI-related valuations had run too far, too fast.
Selling pressure spread across the sector as confidence wavered. The retreat marked one of the sharpest reversals for AI-linked stocks in recent months.
In crypto, Binance executives are racing to cover billions in losses. The effort follows the biggest heist in the industry’s history.
The exchange is working to address the shortfall and stabilize operations. Details on how the losses will be covered remain limited.
Separately, Ukraine struck a Russian oil refinery. The attack targets energy infrastructure tied to Russia’s war effort.
The strike adds to mounting pressure on Russian energy operations. Its full impact on output and exports is still being assessed.
