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Trump Can't End Iran War, So He Changes Subject
This was the week the Iran war stopped being a foreign-policy story for Americans and became a domestic one: inflation hit a three-year high of 4.2%, petrol is up 39% since the fighting began, and a hundred days in the average household is $750 poorer. The economy is somehow still adding jobs. But unable to end the war that is driving the prices, the president spent the week fighting on every other front instead — his own last election, naturalised citizens, China, and the spy law that briefs him each morning.
Weekly briefBritain Runs Out of Money for Defence and Order
John Healey's resignation as defence secretary was not an ordinary reshuffle: he walked out accusing Keir Starmer and the Treasury of refusing to pay for Britain's defence at the most dangerous moment since the Cold War, the week the entire fleet of attack submarines sat in dock. And as the state struggled to fund the things that keep a country safe abroad, it was visibly losing its grip on order at home — the Henry Nowak murder, riots in Belfast, a stabbing in a Manchester school. A government is meant to be able to do both. This one, this week, could do neither.
Weekly briefFrance Arms Europe as Politics Turn Against EU
France spent the week as Europe’s indispensable power — hosting the G7 at Évian, extending its nuclear umbrella to eight allies, presiding over Eurosatory, the West’s biggest arms fair. Yet a new poll put the far right’s Jordan Bardella on 35 percent for 2027, fifteen points clear, on a platform of calling the EU “obsolete” and halving France’s payments to it — and a July 7 court ruling may leave his party with no eligible candidate at all.
Weekly briefMerz Bets Germany's Future on Autonomy as US Pulls 5,000 Troops
Friedrich Merz has made his choice: a Germany less dependent on an America it no longer trusts. This week he absorbed the loss of 5,000 US troops pulled out over his criticism of the Iran war, killed the €100bn FCAS fighter jet with France, and offered Ukraine a seat inside the EU. It is a coherent bet on strategic autonomy. The catch is that the costs are arriving at home — a suspected extremist arson that blacked out 40,000 homes, and a record 85,837 politically motivated crimes — before the autonomy does.
Weekly briefUkraine Wins Deep War but Struggles to Hold Skies
Ukraine's bet on strangulation over storming paid off this week: a destroyed rail bridge and a regional state of emergency left occupied Crimea all but cut off, a NATO official said Russia can no longer resupply it, and drones hit refineries and defense plants deep inside Russia. On the front, Russia's offensive stalled — just 14 sq km gained in May. But the win has a ceiling: Ukraine needs about 60 Patriot interceptors a month and the Iran war has drained the US stockpile, even as Russian strikes killed civilians in Kharkiv, Sumy and Oleshky.
Weekly briefErdoğan Declares Turkey a 'Playmaker' at Security Conference
Erdoğan spent the week looking indispensable to the world — mediating between Washington and Tehran, branding Turkey a regional 'playmaker', and savaging Netanyahu over Gaza. It is real influence, and it has a domestic use. The more the West needs Ankara, the freer his hand at home, where he has jailed his strongest rival and hundreds of opposition officials and will host NATO's leaders next month behind 40,000 security personnel. The same assertiveness that makes Turkey useful to Washington also had its jets harassing European defence ministers off Cyprus.
Weekly briefAll Events
Every other event tracked today, with a one-line preview. Click Show summary to read more.
us48IMO pauses Strait of Hormuz evacuation after Iranian drone strike on cargo vessel; Iran and US clash over navigation rights
The UN International Maritime Organization (IMO) paused its evacuation of stranded seafarers from the Strait of Hormuz after the Singapore-flagged cargo vessel Ever Lovely was struck by an Iranian drone on June 25 while following a new Omani-IMO southern route. The IMO had reported that 115 vessels and 2,500 seafarers had been evacuated since Tuesday before suspending the operation. Iran's IRGC warned that only routes designated by Tehran are safe and that vessels not coordinating with Iran face consequences; Iran's Deputy Foreign Minister Gharibabadi stated that safe passage cannot be guaranteed under ambiguous arrangements or parallel routes, citing Article 5 of the Islamabad MoU. The US and Gulf Cooperation Council (GCC) issued a joint statement rejecting any tolls or Iranian control over the strait and calling for free navigation. US Secretary of State Marco Rubio assured Gulf allies that any Iran deal will not undermine their interests. Iran and Oman announced plans to discuss future administration of the strait. Traffic through the strait has increased but remains below pre-war levels, with 70 confirmed crossings on June 24. South Korea reported that five more of its vessels exited the strait, with 13 still remaining. Saudi Aramco resumed oil loading at Ras Tanura terminal after a nearly four-month halt. Oil prices fell below pre-war levels. The incident highlights unresolved tensions over navigation rights following the US-Iran MoU.
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IMO pauses Strait of Hormuz evacuation after Iranian drone strike on cargo vessel; Iran and US clash over navigation rights
The UN International Maritime Organization (IMO) paused its evacuation of stranded seafarers from the Strait of Hormuz after the Singapore-flagged cargo vessel Ever Lovely was struck by an Iranian drone on June 25 while following a new Omani-IMO southern route. The IMO had reported that 115 vessels and 2,500 seafarers had been evacuated since Tuesday before suspending the operation. Iran's IRGC warned that only routes designated by Tehran are safe and that vessels not coordinating with Iran face consequences; Iran's Deputy Foreign Minister Gharibabadi stated that safe passage cannot be guaranteed under ambiguous arrangements or parallel routes, citing Article 5 of the Islamabad MoU. The US and Gulf Cooperation Council (GCC) issued a joint statement rejecting any tolls or Iranian control over the strait and calling for free navigation. US Secretary of State Marco Rubio assured Gulf allies that any Iran deal will not undermine their interests. Iran and Oman announced plans to discuss future administration of the strait. Traffic through the strait has increased but remains below pre-war levels, with 70 confirmed crossings on June 24. South Korea reported that five more of its vessels exited the strait, with 13 still remaining. Saudi Aramco resumed oil loading at Ras Tanura terminal after a nearly four-month halt. Oil prices fell below pre-war levels. The incident highlights unresolved tensions over navigation rights following the US-Iran MoU.
The UN International Maritime Organization (IMO) paused its evacuation of stranded seafarers from the Strait of Hormuz after the Singapore-flagged cargo vessel Ever Lovely was struck by an Iranian drone on June 25 while following a new Omani-IMO southern route. The IMO had reported that 115 vessels and 2,500 seafarers had been evacuated since Tuesday before suspending the operation. Iran's IRGC warned that only routes designated by Tehran are safe and that vessels not coordinating with Iran face consequences; Iran's Deputy Foreign Minister Gharibabadi stated that safe passage cannot be guaranteed under ambiguous arrangements or parallel routes, citing Article 5 of the Islamabad MoU. The US and Gulf Cooperation Council (GCC) issued a joint statement rejecting any tolls or Iranian control over the strait and calling for free navigation. US Secretary of State Marco Rubio assured Gulf allies that any Iran deal will not undermine their interests. Iran and Oman announced plans to discuss future administration of the strait. Traffic through the strait has increased but remains below pre-war levels, with 70 confirmed crossings on June 24. South Korea reported that five more of its vessels exited the strait, with 13 still remaining. Saudi Aramco resumed oil loading at Ras Tanura terminal after a nearly four-month halt. Oil prices fell below pre-war levels. The incident highlights unresolved tensions over navigation rights following the US-Iran MoU.
ua48Russia declares state of emergency in occupied Crimea amid fuel and power crisis from Ukrainian strikes
Russian-installed authorities in occupied Crimea and Sevastopol declared a regional state of emergency on June 26, 2026, citing a deepening fuel and electricity crisis caused by intensified Ukrainian drone and missile strikes on the peninsula's energy infrastructure, fuel depots, and supply routes. The emergency grants authorities powers to restrict movement, halt enterprises, and expedite resource allocation. The crisis follows weeks of Ukrainian strikes that have knocked out power plants, caused widespread blackouts, halted fuel sales to the public, and disrupted logistics, including rail and ferry connections to mainland Russia. The declaration underscores the growing effectiveness of Ukraine's campaign to isolate Crimea and degrade Russia's military logistics in southern Ukraine.
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Russia declares state of emergency in occupied Crimea amid fuel and power crisis from Ukrainian strikes
Russian-installed authorities in occupied Crimea and Sevastopol declared a regional state of emergency on June 26, 2026, citing a deepening fuel and electricity crisis caused by intensified Ukrainian drone and missile strikes on the peninsula's energy infrastructure, fuel depots, and supply routes. The emergency grants authorities powers to restrict movement, halt enterprises, and expedite resource allocation. The crisis follows weeks of Ukrainian strikes that have knocked out power plants, caused widespread blackouts, halted fuel sales to the public, and disrupted logistics, including rail and ferry connections to mainland Russia. The declaration underscores the growing effectiveness of Ukraine's campaign to isolate Crimea and degrade Russia's military logistics in southern Ukraine.
Russian-installed authorities in occupied Crimea and Sevastopol declared a regional state of emergency on June 26, 2026, citing a deepening fuel and electricity crisis caused by intensified Ukrainian drone and missile strikes on the peninsula's energy infrastructure, fuel depots, and supply routes. The emergency grants authorities powers to restrict movement, halt enterprises, and expedite resource allocation. The crisis follows weeks of Ukrainian strikes that have knocked out power plants, caused widespread blackouts, halted fuel sales to the public, and disrupted logistics, including rail and ferry connections to mainland Russia. The declaration underscores the growing effectiveness of Ukraine's campaign to isolate Crimea and degrade Russia's military logistics in southern Ukraine.
tr48ISIS operative claims 2015 Ankara bombing was unauthorized, alleges contacts with Turkish government
Senior ISIS operative Ömer Deniz Dündar, a defendant in the 2015 Ankara train station bombing case, told investigators that the attack which killed 109 people was initiated by a local commander without ISIS leadership authorization, during a period of alleged indirect negotiations between ISIS and Turkish authorities. Dündar also revealed assassination plots against Istanbul Mayor Ekrem İmamoğlu, American pastor Andrew Brunson, and LGBTQ communities. The claims revive longstanding allegations of Turkish intelligence (MİT) links to ISIS operatives, including İlhami Balı, who allegedly met with MİT officers. Dündar described a network called the 'Faruk Office' coordinating ISIS cells across Turkey, the Caucasus, Kosovo, and Europe.
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ISIS operative claims 2015 Ankara bombing was unauthorized, alleges contacts with Turkish government
Senior ISIS operative Ömer Deniz Dündar, a defendant in the 2015 Ankara train station bombing case, told investigators that the attack which killed 109 people was initiated by a local commander without ISIS leadership authorization, during a period of alleged indirect negotiations between ISIS and Turkish authorities. Dündar also revealed assassination plots against Istanbul Mayor Ekrem İmamoğlu, American pastor Andrew Brunson, and LGBTQ communities. The claims revive longstanding allegations of Turkish intelligence (MİT) links to ISIS operatives, including İlhami Balı, who allegedly met with MİT officers. Dündar described a network called the 'Faruk Office' coordinating ISIS cells across Turkey, the Caucasus, Kosovo, and Europe.
Senior ISIS operative Ömer Deniz Dündar, a defendant in the 2015 Ankara train station bombing case, told investigators that the attack which killed 109 people was initiated by a local commander without ISIS leadership authorization, during a period of alleged indirect negotiations between ISIS and Turkish authorities. Dündar also revealed assassination plots against Istanbul Mayor Ekrem İmamoğlu, American pastor Andrew Brunson, and LGBTQ communities. The claims revive longstanding allegations of Turkish intelligence (MİT) links to ISIS operatives, including İlhami Balı, who allegedly met with MİT officers. Dündar described a network called the 'Faruk Office' coordinating ISIS cells across Turkey, the Caucasus, Kosovo, and Europe.
us45AI shock threatens mass job destruction, US unprepared for labor market disruption
The US college graduate job market is already strained by slow hiring, tariff uncertainty, and AI-driven displacement. A new analysis warns that the 'AI shock' is faster and broader than the 'China shock' of the early 2000s, disproportionately affecting young and educated workers across all industries. The article cites a 2025 Stanford study showing a 6% employment decline for workers aged 22-25 in AI-exposed occupations, and notes that the unemployment rate for recent college graduates is 5.6% versus 4.2% overall. It also highlights that 67% of Americans believe AI will eliminate more jobs than it creates, and 81% of young Americans share that view. The author proposes funding retraining tax credits and wage-loss insurance through a new 25% payroll tax on equity compensation, estimating it could generate at least $100 billion annually to mitigate the political and economic fallout.
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AI shock threatens mass job destruction, US unprepared for labor market disruption
The US college graduate job market is already strained by slow hiring, tariff uncertainty, and AI-driven displacement. A new analysis warns that the 'AI shock' is faster and broader than the 'China shock' of the early 2000s, disproportionately affecting young and educated workers across all industries. The article cites a 2025 Stanford study showing a 6% employment decline for workers aged 22-25 in AI-exposed occupations, and notes that the unemployment rate for recent college graduates is 5.6% versus 4.2% overall. It also highlights that 67% of Americans believe AI will eliminate more jobs than it creates, and 81% of young Americans share that view. The author proposes funding retraining tax credits and wage-loss insurance through a new 25% payroll tax on equity compensation, estimating it could generate at least $100 billion annually to mitigate the political and economic fallout.
The US college graduate job market is already strained by slow hiring, tariff uncertainty, and AI-driven displacement. A new analysis warns that the 'AI shock' is faster and broader than the 'China shock' of the early 2000s, disproportionately affecting young and educated workers across all industries. The article cites a 2025 Stanford study showing a 6% employment decline for workers aged 22-25 in AI-exposed occupations, and notes that the unemployment rate for recent college graduates is 5.6% versus 4.2% overall. It also highlights that 67% of Americans believe AI will eliminate more jobs than it creates, and 81% of young Americans share that view. The author proposes funding retraining tax credits and wage-loss insurance through a new 25% payroll tax on equity compensation, estimating it could generate at least $100 billion annually to mitigate the political and economic fallout.
ua45Ukraine destroys key railway bridge in Crimea, isolating Russian-occupied peninsula
Background: Ukrainian drone strikes on Russian logistics routes to occupied Crimea have reduced military cargo traffic by 71% and caused severe fuel and food shortages. New development: On 23 June, Ukraine's Special Operations Forces struck and destroyed the railway bridge over the North Crimean Canal, confirming the bridge 'no longer exists.' The bridge was a strategic military logistics artery for moving cargo and supplies via the Kerch Strait. Ukrainian Defense Minister Mykhailo Fedorov stated the military is 'isolating Crimea with drones' and predicted Crimea will become an island. Separately, a Russian ballistic missile attack on Kryvyi Rih killed three people and injured over 20, using a cluster munition warhead.
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Ukraine destroys key railway bridge in Crimea, isolating Russian-occupied peninsula
Background: Ukrainian drone strikes on Russian logistics routes to occupied Crimea have reduced military cargo traffic by 71% and caused severe fuel and food shortages. New development: On 23 June, Ukraine's Special Operations Forces struck and destroyed the railway bridge over the North Crimean Canal, confirming the bridge 'no longer exists.' The bridge was a strategic military logistics artery for moving cargo and supplies via the Kerch Strait. Ukrainian Defense Minister Mykhailo Fedorov stated the military is 'isolating Crimea with drones' and predicted Crimea will become an island. Separately, a Russian ballistic missile attack on Kryvyi Rih killed three people and injured over 20, using a cluster munition warhead.
Background: Ukrainian drone strikes on Russian logistics routes to occupied Crimea have reduced military cargo traffic by 71% and caused severe fuel and food shortages. New development: On 23 June, Ukraine's Special Operations Forces struck and destroyed the railway bridge over the North Crimean Canal, confirming the bridge 'no longer exists.' The bridge was a strategic military logistics artery for moving cargo and supplies via the Kerch Strait. Ukrainian Defense Minister Mykhailo Fedorov stated the military is 'isolating Crimea with drones' and predicted Crimea will become an island. Separately, a Russian ballistic missile attack on Kryvyi Rih killed three people and injured over 20, using a cluster munition warhead.
us44Chinese open-source AI model GLM-5.2 raises hacking concerns
The release of Z.ai's open-source AI model GLM-5.2, which rivals top US models in cybersecurity benchmarks at half the cost, is raising alarms among security researchers. Its open-weight nature allows malicious actors to remove safety controls and run it locally, enabling automated hacking, phishing, and malware generation with reduced detection risk. Hackers are already discussing jailbreaking the model in Russian-language forums. The Trump administration is still debating release of Anthropic's advanced models over safety concerns, while Five Eyes leaders warned of accelerating cyber threats from AI.
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Chinese open-source AI model GLM-5.2 raises hacking concerns
The release of Z.ai's open-source AI model GLM-5.2, which rivals top US models in cybersecurity benchmarks at half the cost, is raising alarms among security researchers. Its open-weight nature allows malicious actors to remove safety controls and run it locally, enabling automated hacking, phishing, and malware generation with reduced detection risk. Hackers are already discussing jailbreaking the model in Russian-language forums. The Trump administration is still debating release of Anthropic's advanced models over safety concerns, while Five Eyes leaders warned of accelerating cyber threats from AI.
The release of Z.ai's open-source AI model GLM-5.2, which rivals top US models in cybersecurity benchmarks at half the cost, is raising alarms among security researchers. Its open-weight nature allows malicious actors to remove safety controls and run it locally, enabling automated hacking, phishing, and malware generation with reduced detection risk. Hackers are already discussing jailbreaking the model in Russian-language forums. The Trump administration is still debating release of Anthropic's advanced models over safety concerns, while Five Eyes leaders warned of accelerating cyber threats from AI.
us43Putin Frustrated as Trump Warms to Ukraine After Drone Successes
According to the Financial Times, Russian President Vladimir Putin is growing frustrated with Donald Trump as the US shows greater support for Ukraine, impressed by Kyiv's long-range drone strikes deep into Russia. Moscow had expected Trump to push for a rapid peace deal favorable to Russia, but instead sees Washington moving closer to Kyiv on air defense, long-range capabilities, and technology licensing. The shift follows the G7 summit in France, where leaders agreed to increase support for Ukraine's air defense, long-range capabilities, and domestic weapons production, and discussed tougher sanctions on Russia's energy sector. Ukraine's drone campaign has struck oil facilities, logistics routes, and military infrastructure inside Russia, weakening the Kremlin's narrative that Russian territory is secure from the war's consequences.
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Putin Frustrated as Trump Warms to Ukraine After Drone Successes
According to the Financial Times, Russian President Vladimir Putin is growing frustrated with Donald Trump as the US shows greater support for Ukraine, impressed by Kyiv's long-range drone strikes deep into Russia. Moscow had expected Trump to push for a rapid peace deal favorable to Russia, but instead sees Washington moving closer to Kyiv on air defense, long-range capabilities, and technology licensing. The shift follows the G7 summit in France, where leaders agreed to increase support for Ukraine's air defense, long-range capabilities, and domestic weapons production, and discussed tougher sanctions on Russia's energy sector. Ukraine's drone campaign has struck oil facilities, logistics routes, and military infrastructure inside Russia, weakening the Kremlin's narrative that Russian territory is secure from the war's consequences.
According to the Financial Times, Russian President Vladimir Putin is growing frustrated with Donald Trump as the US shows greater support for Ukraine, impressed by Kyiv's long-range drone strikes deep into Russia. Moscow had expected Trump to push for a rapid peace deal favorable to Russia, but instead sees Washington moving closer to Kyiv on air defense, long-range capabilities, and technology licensing. The shift follows the G7 summit in France, where leaders agreed to increase support for Ukraine's air defense, long-range capabilities, and domestic weapons production, and discussed tougher sanctions on Russia's energy sector. Ukraine's drone campaign has struck oil facilities, logistics routes, and military infrastructure inside Russia, weakening the Kremlin's narrative that Russian territory is secure from the war's consequences.
us41Haberman and Swan book details Trump's untethered second-term power projection
Journalists Maggie Haberman and Jonathan Swan's book 'Regime Change' describes President Trump's second term as marked by a greater willingness to use power aggressively, including military action in Iran and Venezuela and a global trade war. Aides report Trump is less constrained by political considerations and more driven by gut instinct, posing risks to global stability.
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Haberman and Swan book details Trump's untethered second-term power projection
Journalists Maggie Haberman and Jonathan Swan's book 'Regime Change' describes President Trump's second term as marked by a greater willingness to use power aggressively, including military action in Iran and Venezuela and a global trade war. Aides report Trump is less constrained by political considerations and more driven by gut instinct, posing risks to global stability.
Journalists Maggie Haberman and Jonathan Swan's book 'Regime Change' describes President Trump's second term as marked by a greater willingness to use power aggressively, including military action in Iran and Venezuela and a global trade war. Aides report Trump is less constrained by political considerations and more driven by gut instinct, posing risks to global stability.
de41Dutch troops rehearse defense against Russian-style invasion in Germany
Nearly 7,000 Dutch troops are conducting Exercise Fighter Lion in Germany, the Netherlands' largest army exercise in two decades, integrating lessons from Ukraine's battlefield including anti-drone tactics and sustained combat operations. The exercise simulates a Russian-style invasion across the Oder River, testing brigade handoffs, anti-drone measures, and electronic warfare skills. This reflects NATO's heightened readiness posture amid the war in Ukraine.
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Dutch troops rehearse defense against Russian-style invasion in Germany
Nearly 7,000 Dutch troops are conducting Exercise Fighter Lion in Germany, the Netherlands' largest army exercise in two decades, integrating lessons from Ukraine's battlefield including anti-drone tactics and sustained combat operations. The exercise simulates a Russian-style invasion across the Oder River, testing brigade handoffs, anti-drone measures, and electronic warfare skills. This reflects NATO's heightened readiness posture amid the war in Ukraine.
Nearly 7,000 Dutch troops are conducting Exercise Fighter Lion in Germany, the Netherlands' largest army exercise in two decades, integrating lessons from Ukraine's battlefield including anti-drone tactics and sustained combat operations. The exercise simulates a Russian-style invasion across the Oder River, testing brigade handoffs, anti-drone measures, and electronic warfare skills. This reflects NATO's heightened readiness posture amid the war in Ukraine.
us40Tech stocks plunge on AI bubble fears, memory chip makers hit hard
On Tuesday, tech stocks experienced a sharp decline driven by fears of an AI bubble. The Nasdaq Composite fell 2.5%, with memory chip and data storage companies suffering the worst losses. Micron dropped over 10%, Sandisk plunged 12%, and Seagate and Western Digital fell about 8%. The sell-off was triggered by a 10% overnight drop in South Korea's KOSPI index, which is heavily weighted toward memory chip makers Samsung and SK Hynix. SpaceX shares briefly dipped below their IPO price of $150. The downturn reflects growing investor anxiety about overvaluation in AI-related sectors, though it remains unclear whether this is a temporary correction or a more sustained shakeout.
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Tech stocks plunge on AI bubble fears, memory chip makers hit hard
On Tuesday, tech stocks experienced a sharp decline driven by fears of an AI bubble. The Nasdaq Composite fell 2.5%, with memory chip and data storage companies suffering the worst losses. Micron dropped over 10%, Sandisk plunged 12%, and Seagate and Western Digital fell about 8%. The sell-off was triggered by a 10% overnight drop in South Korea's KOSPI index, which is heavily weighted toward memory chip makers Samsung and SK Hynix. SpaceX shares briefly dipped below their IPO price of $150. The downturn reflects growing investor anxiety about overvaluation in AI-related sectors, though it remains unclear whether this is a temporary correction or a more sustained shakeout.
On Tuesday, tech stocks experienced a sharp decline driven by fears of an AI bubble. The Nasdaq Composite fell 2.5%, with memory chip and data storage companies suffering the worst losses. Micron dropped over 10%, Sandisk plunged 12%, and Seagate and Western Digital fell about 8%. The sell-off was triggered by a 10% overnight drop in South Korea's KOSPI index, which is heavily weighted toward memory chip makers Samsung and SK Hynix. SpaceX shares briefly dipped below their IPO price of $150. The downturn reflects growing investor anxiety about overvaluation in AI-related sectors, though it remains unclear whether this is a temporary correction or a more sustained shakeout.