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Global long-term bond yields are rising sharply while equity markets remain heavily priced, increasing valuation pressure on AI and other growth companies. The article argues that surging AI infrastructure spending must now prove it can generate sufficient revenue, profit, and cash flow to justify elevated valuations.
TikTok is laying off 75 employees in Bellevue, Washington, with most affected roles tied to TikTok Shop and Global E-Commerce. The cuts add to a continuing wave of technology layoffs across the Seattle region.
Xiaomi reported its third consecutive quarterly decline in profit as a global memory shortage raised smartphone costs. Adjusted net income fell about 43% to 6.22 billion yuan, while reported net profit declined 20.5%.
Global sovereign bond markets are facing a major sell-off as fiscal expansion, inflation uncertainty, shrinking long-term demand, and heavy AI-related corporate borrowing push long-term yields higher. Goldman Sachs warns that the Federal Reserve could theoretically be forced to raise rates even during weakening economic data to stabilize the yield curve.
A global semiconductor-stock selloff intensified, sending Samsung and SK Hynix shares down more than 7% in Seoul. The decline followed a 5% drop in the Philadelphia Semiconductor Index as investors pulled back from high-performing chip stocks.