The big winners of the tech wreck are biopharma stocks

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• Chip stocks crash: Intel plunges 30%, AMD drops 12%, Nvidia and Broadcom also slide — what's driving the selloff?

  Investors aggressively dumped semiconductor holdings following explosive earnings growth from Chinese competitor ChangXin Memory Technologies and dismal financial guidance from major domestic producers. The downturn reflects intensifying anxiety over escalating artificial intelligence capital expenditures that are failing to offset slowdowns across foundational tech segments. This coordinated retreat now threatens to wipe out recent tech-heavy index gains fueled by earlier mega-round funding announcements.

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• Why bitcoin held up better after the record Binance hack

  Rapid mitigation efforts, platform-specific risk isolation, and a committed base of long-term holders shielded the digital asset from severe panic after the multi-billion-dollar breach. Crypto market participants distinguished the exchange-level security failure from the underlying blockchain network's integrity, blunting wider systemic sell-offs. Stablecoin issuers actively assisted in containing damages by immobilizing a substantial portion of the illicitly acquired assets.

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• American workers are finding their take-home pay isn’t keeping up with inflation, with their wallets ‘stretched thinner and thinner’

  Persistent economic pressures have left household budgets strained as the overall cost of living outpaces what employees bring home. This dynamic underscores an ongoing erosion of purchasing power across the labor market. The gap highlights growing financial stress as standard pay increases fail to absorb broader price increases.

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