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Alibaba and Tencent Lose $66 Billion in Market Value Amid AI Profit Doubts

Key Points: Alibaba and Tencent saw a combined $66 billion wiped from their market value in just 24 hours. Investors are increasingly anxious about the massive investments Chinese tech giants are making in artificial intelligence without clear plans for generating revenue. Alibaba reported a massive 67% drop in its quarterly net income, further spooking the...

Oil Prices Surge Past $110 as War Destroys Gulf Energy Infrastructure

Key Points: Brent crude briefly crossed $119 per barrel after new attacks on Middle Eastern energy infrastructure. Israel struck Iran's massive South Pars gas field, sparking immediate retaliation. Iran attacked critical refineries and export terminals in Saudi Arabia, Kuwait, and the UAE. US Treasury Secretary Scott Bessent suggested removing sanctions on 191 million barrels of...

Federal Reserve Faces Tough Choices as Iran War Spikes Oil Prices

Key Points: The Federal Reserve will likely keep interest rates between 3.5% and 3.75% at its meeting this Wednesday. The ongoing war in Iran has spiked oil prices, creating deep divisions among central bank officials. Economists warn that keeping oil at $100 a barrel for three months could push the US economy into a recession....