📈 Stocks / Finance

Big Tech selloff drags markets as Fed outlook dims

AP News

The S&P 500 fell 1.2% and Nasdaq dropped 2% as major tech stocks like Palantir (-8%) and Nvidia (-4%) slumped. Investors reacted to mixed earnings and rising uncertainty around Fed rate cuts amid stubborn inflation and lack of new economic data due to the government shutdown.

Polaris drops 7.8% as valuation concerns mount

Yahoo Finance

Polaris shares fell 7.8% amid supply chain shifts and RV demand uncertainty. A DCF model suggests the stock is overvalued by over 800%, though its 0.52x P/S ratio sits near fair value. Analysts remain split on whether recent headwinds are fully priced in.

Supermicro sinks after Q1 miss and reduced outlook

Yahoo Finance

Supermicro shares fell over 8% after Q1 revenue dropped to $5.02B, missing the $6.09B estimate. EPS came in at $0.35 vs. $0.41 expected. The AI server maker also cut its outlook in October and faces rising competition and regulatory scrutiny.

🪙 Crypto

Bitcoin dips below $100K as AI-fueled rally cools

CNBC

Bitcoin dropped below $100,000 for the first time since June, falling 6% amid fading risk appetite tied to AI-driven equity overvaluation. Analysts cite weak retail buying, long-term holder selling, and a lack of catalysts, with downside risk extending toward the $95K level.

🌎 Global Economy

Cooperatives launch $2.8T manifesto at Doha for new economy

PR Newswire

At the Doha Summit, leaders of top cooperatives unveiled a global economic manifesto promoting sustainability and inclusion. The sector’s $2.8T output rivals the 8th largest economy, signaling growing influence in reshaping global development policy.

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