Premium'AI Tax' Threats & NACHO Nerves Trigger Market Tantrums
Tl;dr: A triple-whammy of 'AI Tax' threats (suddenly stalling the melt-up in AI/Semis), zero movement from Tehran towards a peace-deal (longer disruption fears pushing oil higher, back above $100), and hot CPI (rate-hike odds rising) sparked a lot of damage across markets today with Big-Tech and Small Caps slammed (though an afternoon BTFD helped), bonds dumped, precious metals pummeled, and bitcoin battered as the dollar was bid.
And there's still plenty of event risk ahead with Trump-Xi's meeting and NVDA earnings (and who knows what Iran will do/say next)...