How much further have markets fallen? Nasdaq 100 futures are down 7.1% over the past 12 hours as after-hours selling continues.

The S&P 500 has lost $5 trillion since its October 6 high.

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⚡️ What prompted Trump to speak out? After today’s stock market crash, he called it one of the market’s “worst days in history.”

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Texas could halt AI data center expansion until safeguards are in place.

Governor-elect Gina Hinojosa says lawmakers need to act first. She told CNN that data center activity should stop until protections are established.

Hinojosa is set to become Texas’s first Democratic governor since 1995.

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Did Galaxy $GLXY’s CEO just buy the dip? Novogratz picked up $9.9 million in company stock after shares fell 41%. The board also approved another $200 million for buybacks.

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Several hedge funds are reportedly facing steep losses, investor withdrawals and possible closures this week.

Walleye Capital, which manages $17B, posted its worst month since March 2020, falling 5.9% in October. The firm is cutting equity long/short leadership and teams, returning capital, and shifting toward volatility and quantitative strategies.

Others named in the shakeout include Axebrook, Engineers Gate, Lone Pine, Millennium’s internal pods, Verition’s pods and Samlyn.

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Higher energy costs could trigger a chain reaction: stronger wage demands, then rising prices across the economy. ECB official Philip Lane says the threat is real.

One factor is fiscal policy. It has been looser than expected. Tightening is planned for next year, but there is still room to curb spending now.

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Trump said the Iran war was largely to blame for the Republicans’ defeat. Still, he insisted the operation was needed to stop Iran from getting nuclear weapons.

He also said he would “get along” with the Democrats. A diplomatic plot twist.

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Which states will accept Trump’s offer to gain financial benefits from AI? The proposal could deliver economic gains to states that choose to take it up.

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Elon Musk says Cybertruck production could start winding down around mid-2027. Production is continuing for now, and Tesla has not announced a shutdown. If the timeline holds, it would mark the beginning of the truck’s final chapter.

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Could Tehran’s willingness to discuss previously off-limits nuclear issues help bring the war closer to an end? The change may signal progress in negotiations and move both sides toward a deal. 🤝

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October added 165,000 jobs, well above the 64,000 forecast. Unemployment was 4.1%, below the expected 4.2%. September’s job gains were also revised up by 28,000. Together, the figures strengthened expectations of a December rate hike. The case is becoming harder to dismiss.

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What drove the semiconductor rally at the US open? The trigger remains unclear, but the index jumped 5.4%, with SanDisk leading the gains at 10.4%. The Dow, by contrast, fell 1%.

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⚡️ OpenAI CFO Sarah Friar confirms the company is in fundraising talks at a valuation nearly 50% higher than in its March round.

Her explanation: demand for AI is real.

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Could a NT$500 billion fund steady Taiwan’s stock market? The rescue plan follows the Taiex’s worst week since 2001. Short-selling curbs begin Nov 9.

Arthur Hayes: “Let the AI bailouts begin!”

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Did an airstrike hit Qeshm Island in the Strait of Hormuz? The strike was reported, along with explosions and missile launches after Iranian forces reportedly fired at a drone overnight.

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⚡️ JD Vance has proposed direct talks with Iran to secure a new ceasefire.

The proposal comes after near-daily discussions with Qatari and Pakistani mediators. Meanwhile, U.S. forces remain ready to resume strikes, so diplomacy has plenty to do.

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⚡️ Paraguay’s Santiago Peña has been placed under house arrest on suspicion of breach of trust. The move followed prosecutors’ issuance of arrest warrants for Peña and a former central bank chief.

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The US is offering a reward for information on Iran’s nuclear program, despite Trump’s claim that it was obliterated and confirmation that the strike was “minor.”

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⚡️ Iraq’s foreign minister has warned that war could flare up again across the region. Speaking to Al Jazeera, he said renewed conflict is possible as Iran prepares for a resumption of hostilities, considers new targets and adjusts its tactics.

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⚡️ Trump has reportedly ordered “minor strikes” on Iran, his first military action since the election. The headline is in; the details are still reportedly unfolding.

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Berkshire Hathaway doubled stock buybacks to $9.6 billion in one quarter, even as operating profit fell 5.8% to $12.7 billion. Insurance underwriting profit dropped 43%.

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