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JPMorgan Chase CEO Jamie Dimon said financial markets are underestimating current geopolitical and economic risks. Dimon told an audience he personally would not buy stocks or US Treasurys at today's prices.
South Korea's Samsung Biologics announced an all-cash bid of 1.46 billion Swiss francs ($1.8 billion) for Switzerland's PolyPeptide Group. The deal is seen as a move to expand Samsung's pharmaceutical manufacturing supply chain.
TSMC said it is accelerating its Arizona factory buildout to capitalize on the AI 'megatrend,' citing robust customer demand. Chief Financial Officer Wendell Huang made the comments in an exclusive interview with CNBC.
The Dow Jones Industrial Average fell 406.55 points, or 0.77 percent, to close at 52,146.42. Selling pressure in chipmaker stocks broadened into a wider market decline, dragging both the day and the week lower.
As the US earnings season accelerates, investor attention is turning to results from Alphabet and Intel that could set the tone for the broader AI trade. The reports follow weeks of volatility in chip stocks and come as Wall Street weighs how much further AI-linked spending can run.
AI-linked investment continues to support Singapore's economy, though second-quarter growth eased. It was a torrid week for global chipmakers, with share prices falling sharply as AI-related investment cooled.
Netflix shares fell in after-hours trading after the streaming giant's third-quarter earnings forecast missed Wall Street expectations. The company also said it would reduce the frequency of its "What We Watched" viewership reports, limiting investor visibility into engagement trends. The forecast miss weighed on peers across the streaming sector.
The world's largest contract chipmaker, TSMC, reported second-quarter profit up more than 77%, beating market estimates. The results signal continued strong demand for high-end AI-related semiconductors.