Chip slump wipes out $1.3 trillion in stock market value

Marvell Technology to join S&P 500 index after AI boom drives profitability. Chipmaker meets benchmark for inclusion in the key market gauge.

Chipmaker Marvell Technology will join the S&P 500 index after its AI boom helped it pass a profitability test.

Nasdaq plunges in biggest drop since April 2025 as strong May jobs report fuels rate hike fears. US chipmakers lose $1.3T in value.

The Nasdaq experienced its largest daily drop since April 2025, driven by a strong May jobs report that raised fears of interest rate hikes, ending a nine-week winning streak. US-traded chipmakers lost approximately $1.3 trillion in market value.

WTO says signs indicate global goods trade is starting to slow.

The World Trade Organization notes signs that global trade in goods is beginning to slow.

Reserve Bank of India keeps repo rate unchanged at 5.25%, projects GDP growth at 6.6% and inflation at 5.1% for 2026-27

India's central bank, the Reserve Bank of India, has kept its repo rate unchanged at 5.25 percent amid risks from the prolonged Middle East conflict, and projected real GDP growth at 6.6 percent and retail inflation at 5.1 percent for 2026-27.