Market jitters persist as the AI selloff deepens. South Korea’s KOSPI fell almost 4%, accompanied by one of the weakest IPO debuts in the country’s history, with data centre company Elice tumbling around 30%.
The weakness carried into U.S. pre-market trading, with CoreWeave (CRWV) down 4%, Cipher Digital CIFR falling 2% and IREN IREN losing 3%. The Invesco QQQ ETF also traded lower, reflecting broader pressure on technology stocks.
Bitcoin edged lower over the past 24 hours but held above $81,000, while gold slipped almost 1% to just above $4,110 an ounce. Brent and WTI crude oil each climbed a further 2%.
Long-dated U.S. Treasuries appear to be attracting defensive flows, with the iShares 20+ Year Treasury Bond ETF (TLT) rising 0.5%.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
