If you have any U.S. technology stocks in your portfolio (and let’s face it, who doesn’t?), you might want to look away.

For the second day in a row, tech stocks dragged markets lower, with the Nasdaq Composite slipping 0.67%. Juggernauts such as Apple, Amazon and Alphabet were more meh-nificent than magnificent, falling more than 1%.

Palantir — the standout S&P 500 stock, having more than doubled so far this year — had its sixth consecutive day in the red and lost its place among a ranking of the 20 most valuable U.S. companies.

While Palantir’s slide was partly triggered by a report from short seller Andrew Left’s Citron Research, which called the company “detached from fundamentals and analysis,” there was no single trigger for the broader pullback.

Investors could have been spooked by OpenAI CEO Sam Altman’s caution about an AI bubble forming, although some analysts dispute that assertion. “In our view the tech bull cycle will be well intact at least for another 2-3 years,” said Wall Street tech bull Dan Ives.

Or it could be something benign, like traders locking in profits. “Tech stocks,” said Carol Schleif, chief market strategist at BMO Private Wealth, “have had an incredibly strong run – with some up over 80% since the early April lows.”

Summer, after all, is far from over. Some investors might have just wanted to cash out for another round of margaritas.

Red carpet for Putin, trade relief for China, penalties on India: Inside Trump’s peculiar policy playbook

U.S. President Donald Trump is pursuing an unusual strategy — courting Russian President Vladimir Putin, holding fire on Beijing, all the while turning the screws on India.

Despite India being one of the earliest nations to engage in negotiations with the Trump administration, there is still no sign of it sealing a deal with America. New Delhi is now also staring at a secondary tariff of 25% or a “penalty” for its purchases of Russian oil that is set to come into effect later this month.

— Anniek Bao

If you have any U.S. technology stocks in your portfolio (and let’s face it, who doesn’t?), you might want to look away.

For the second day in a row, tech stocks dragged markets lower, with the Nasdaq Composite slipping 0.67%. Juggernauts such as Apple, Amazon and Alphabet were more meh-nificent than magnificent, falling more than 1%.

Palantir — the standout S&P 500 stock, having more than doubled so far this year — spent its sixth consecutive day in the red and lost its place among a ranking of the 20 most valuable U.S. companies.

While Palantir’s slide was partly triggered by a report from short seller Andrew Left’s Citron Research, which called the company “detached from fundamentals and analysis,” there was no single trigger for the broader pullback.

Investors could have been spooked by OpenAI CEO Sam Altman’s caution about an AI bubble forming, although some analysts dispute that assertion. “In our view the tech bull cycle will be well intact at least for another 2-3 years,” said Wall Street tech bull Dan Ives.

Or it could be something benign, like traders locking in profits. “Tech stocks,” said Carol Schleif, chief market strategist at BMO Private Wealth, “have had an incredibly strong run – with some up over 80% since the early April lows.”

Summer, after all, is far from over. Some investors might have just wanted to cash out for another round of margaritas.

Fed officials divided over inflation and employment worries. Central bank governors generally agreed there were risks on both sides. But a couple — breaking from the majority — saw the labor market woes as more pressing, according to minutes of the Fed’s July meeting.

Trump likely to pick Kevin Hassett as next Fed Chair. The director of the National Economic Council firmly led the pack, according to a CNBC Fed Survey. However, respondents think the president “should” pick former Fed Governor Kevin Warsh.

No new solar or wind power projects, Trump says. Renewable energy projects will no longer receive approval, Trump posted Wednesday on Truth Social. His comment comes after the administration already tightened federal permitting last month. 

Fourth day of losses for the S&P 500. Investors continued selling off technology stocks on Wednesday, with Palantir having its sixth straight losing day. The U.K.’s FTSE 100 closed at another high despite inflation in July coming in hotter than expected.

[PRO] The Fed is expected to cut just as markets trade at highs. This is what tends to happen when both factors coincide, according to Goldman Sachs research.

Trump has snapped up more than $100 million in bonds since taking office

U.S. President Donald Trump has been on a multimillion-dollar bond-buying spree since taking office in January, investing in debt issued by local authorities, gas districts and major American corporations.

Across 33 pages of filings with the U.S. Office of Government Ethics, or OGE, dated Aug. 12, the president outlined 690 transactions that have taken place since he took office. The documents were made public on Tuesday.

— Chloe Taylor

Correction: This report has been updated to correct the spelling of Kevin Hasset’s name.