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Key Developments Reshape Market Landscape
U.S. equities retreated Thursday as a dramatic 14% plunge in Tesla shares and sector rotation overshadowed Circle’s historic 168% debut as the first publicly traded stablecoin company, while European central banks escalated policy responses to trade tensions.
Market Performance Snapshot
| Index/Commodity | Price | Change |
|---|---|---|
| Dow Jones Industrial | 42,319.74 | -0.25% |
| S&P 500 | 5,939.30 | -0.53% |
| Nasdaq Composite | 19,298.45 | -0.83% |
| WTI Crude | $63.37 | +0.83% |
| COMEX Gold | $3,375.10 | -0.71% |
Sector Highlights
Top Performers
- Metals & Mining: Pan American Silver (+7%)
- Stablecoins: Circle (+168% debut)
- China Tech: Kingsoft Cloud (+7%)
Biggest Decliners
- EV: Tesla (-14%)
- Space: Virgin Galactic (-7%)
- Crypto: BitDigital (-9%)
Key Developments
- Trump-Musk Feud: Public spat escalates over election claims
- ECB Policy: 25bps cut amid tariff pressures (8th in 12 months)
- NATO Spending: Members consider 5% GDP defense target
- Bitcoin ETF: Trump Media files for “TruthSocial BTC ETF”
Corporate Spotlight
| Company | Development | Impact |
|---|---|---|
| Tesla | CEO clashes with Trump | $150B market cap loss |
| Circle | NYSE debut | Stablecoin sector validation |
| Microsoft | OpenAI partnership adjustment | AI leadership questions |
Policy Watch
- Fed: Kugler warns of tariff-driven inflation
- ECB: Dovish pivot continues
- Fiscal: Summers critiques debt trajectory
Market Outlook: Volatility expected to persist amid geopolitical tensions and sector rotation, with particular focus on Friday’s NFP report for directional cues.
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