International markets update:
A volatile trading week concludes with President Trump dominating headlines through a fiery speech, while a significant tech sector sell-off, particularly in AI-related stocks, weighs on market sentiment.
- President Trump’s prime-time address accused China of extensive 2020 election meddling, citing “shocking vulnerabilities” and declassified documents, which could strain U.S.-China trade and complicate President Xi Jinping’s upcoming visit.
- President Trump’s longtime teleprompter operator has been suspended and is under federal investigation for allegedly profiting over $90,000 from bets related to Trump’s statements on a prediction market platform.
- Trump Media and Technology Group launched “Truth API,” a new paid data feed designed to offer algorithmic trading firms the fastest access to posts from key accounts on Trump’s Truth Social platform.
- Asian chip stocks, including Softbank and TSMC, mirrored a broader Wall Street AI sell-off, driven by concerns that TSMC’s earnings were not robust enough to justify further sector upside amid perceived excessive spending.
- Netflix shares plummeted over 8% in after-hours trading after the streaming giant’s latest earnings forecast disappointed investors, despite reporting healthy content engagement, as co-CEO Greg Peters noted that viewing hours do not linearly translate to revenue and profit.
Stock Market News summarised for the Wall Street Investors Club community.