21h ago
Tesla says FSD was engaged in fatal Katy, Texas crash as driver allegedly floored accelerator to 73 mph
Tesla confirmed that its Full Self-Driving (FSD) system was engaged when a fatal crash in Texas occurred, saying the driver pressed the accelerator to 100% and the car hit a home at 73 mph. The National Highway Traffic Safety Administration (NHTSA) has opened a Special Crash Investigation and plans to independently retrieve event data recorder (EDR) data. The incident adds to pressure following a 2024 Florida jury verdict that found Tesla 33% responsible in a deadly Autopilot crash, heightening regulatory risk.
21h ago
21h ago
Tech selloff deepens as Nasdaq slides more than 2% and Micron sinks over 11%
Global technology stocks extended losses for a second session, with the Nasdaq falling more than 2% and the S&P 500 down 1.6%. Micron Technology tumbled more than 11%, while semiconductor shares in South Korea and Japan also sold off sharply. Investors have focused on surging AI-related compute costs and tighter memory-chip supply that has pushed prices higher, alongside hawkish signals from the U.S. Federal Reserve that have revived expectations for two rate hikes this year. A U.S. waiver of sanctions on Iranian oil and petrochemical exports has also stirred concerns about renewed energy-driven inflation, though it has not disrupted supply, according to ANI.
21h ago
21h ago
Rouble slips past 75 per dollar as Moscow stocks hit three-year low after refinery drone strikes
Repeated Ukrainian drone strikes on Russian refineries in recent months have tightened fuel supplies, triggering gasoline shortages, surging prices and long lines at filling stations in several regions. The Moscow Exchange index slid to a three-year low, while the rouble weakened past 75 to the U.S. dollar for the first time since May 6. Russia’s central bank warned that reduced fuel output could push inflation higher. The disruptions amount to a material shock to global oil supply by directly affecting refining.
Selected
21h ago
21h ago
KOSPI trading halt and $400 billion SpaceX wipeout spark fears of an AI-driven valuation bubble
Trading in South Korea’s KOSPI was suspended, while SpaceX suffered a roughly $400 billion one-day loss in market value, stoking broader concerns that AI-driven valuations are deflating. KOSPI heavyweights such as Samsung Electronics and SK Hynix, which had surged on expectations of booming demand for high-bandwidth memory (HBM) chips for AI servers, also pulled back sharply. Experts cited in the report said market enthusiasm around AI appears to have peaked, drawing comparisons to the 2000 dot-com bubble. The episode was described as a sudden, index-level shock rather than routine market volatility.
Selected
21h ago
22h ago
US gas prices fall for a sixth straight week to $3.93 a gallon, down 14% from May peak amid US-Iran talks
The United States and Iran signed a 60-day memorandum to continue nuclear negotiations, and Washington formally waived oil sanctions on Tehran for two months, opening a path for Iran to unlock as much as $10 billion in export revenue. Over the same period, the national average gasoline price slid to $3.93 a gallon, down 14% from a May peak, and Brent crude fell below $80 a barrel. Although later talks broke down and fresh reports emerged of another blockade in the Strait of Hormuz, expectations of near-term supply increases have already weighed on energy prices.
22h ago
22h ago
Global AI chip stocks slide as SK Hynix and Samsung drop over 12% and SOXX falls more than 7%
AI chip stocks saw heavy selling globally, with South Korea’s SK Hynix and Samsung Electronics falling more than 12% in a single session, triggering forced liquidations and a wave of leveraged ETF selling. U.S. semiconductors also sank, with the SOXX ETF down more than 7% and SanDisk down more than 12%, Micron off more than 11%, and ARM down more than 7%. A strong U.S. manufacturing PMI print failed to lift sentiment. Markets are focusing on whether AI-related asset valuations can remain sustainable.
22h ago
22h ago
Dow drops more than 300 points as Korn Ferry posts $1.40 EPS in Q4
Korn Ferry (NYSE: KFY) reported fourth-quarter results that topped expectations, with earnings of $1.40 per share versus forecasts of $1.38. Revenue came in at $768.256 million, above estimates of $743.340 million. The company operates in human resources and professional services, and the beat points to steady demand for hiring and organizational consulting. The declines in major stock indexes and commodities cited in the report reflect broader market performance and are not presented as directly caused by KFY’s earnings.
22h ago
22h ago
Five Eyes warn frontier AI could outpace cybersecurity defenses within months
The Five Eyes intelligence alliance said frontier AI models could outstrip current cybersecurity defenses within months, urging governments and businesses to accelerate preparations. After highlighting the risks of AI-enhanced hacking, the agencies said organizations should modernize systems, limit access to critical infrastructure and incorporate AI tools into security operations. Anthropic then suspended external access to Mythos 5 and a restricted version, Fable 5, to comply with a U.S. national security order that bars foreign nationals from using the models. The move underscores a shift from broad AI governance principles to direct, operational intervention in a rare instance of urgent enforcement in the sector.
22h ago