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AI Anxiety and Metal Mayhem Shake U.S. Markets

U.S. stock futures stumbled as renewed doubts about the sustainability of the artificial‑intelligence boom rippled through financial markets. Tech-heavy benchmarks led the decline, with Nasdaq futures sliding and the S&P 500 also moving lower as investors reassessed whether AI-linked valuations have run too far, too fast. The unease wasn’t limited to equities. Precious metals experienced dramatic intraday swings, with gold and silver both whipsawing after a period of rapid gains. Traders pointed to shifting expectations around interest rates and safe‑haven demand as key drivers behind the volatility. The combination of tech-sector skepticism and commodity turbulence has created a tense backdrop for markets. While some investors see the pullback as a healthy reset, others worry it may signal deeper concerns about the durability of the recent rally. Markets now look ahead to upcoming economic data and corporate earnings for clearer direction.
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Yemen’s Houthi rebels suspected of attacking ship in Gulf of Aden

 

A ship sailing in the Gulf of Aden was hit by a missile on Monday, less than a day after Yemen’s Houthi rebels fired an anti-ship cruise missile toward an American destroyer in the Red Sea, officials said.

The attack on the ship, which occurred about 110 miles southeast of Aden, was reported by the United Kingdom Maritime Trade Operations, which oversees Mideast waters. The ship’s captain said the missile struck the port side of the vessel from above, but did not provide any further details.

The identity of the ship and its crew was not immediately disclosed, nor was the extent of the damage or any casualties.

The Houthi rebels, who are backed by Iran and control Yemen’s capital, have not claimed responsibility for the attack, but they have previously targeted shipping in the Gulf of Aden and the Red Sea amid Israel’s war with Hamas in the Gaza Strip.

The Houthis have said they are defending themselves against the Saudi-led coalition that has been bombing them since 2015, after they ousted the internationally recognized government of Yemen.

The U.S. and its allies have accused the Houthis of disrupting the free flow of international commerce and threatening regional stability. President Joe Biden has warned that he will not hesitate to take further measures to protect U.S. interests and allies in the area.

The attack on the ship came as the U.N. Security Council was meeting to discuss the situation in Yemen and the humanitarian crisis caused by the war, which has killed over 100,000 people and pushed millions to the brink of famine.



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