💥 Alphabet Tops $4T, AI & Cloud Drive Tech, While Gold Skyrockets & Banks Feel the Heat!

Technology giants are driving changes in market structure, with Alphabet (Google's parent company) surpassing a market capitalization of $4 trillion, driven by AI advancements and cloud business growth, becoming a mega-cap company alongside Nvidia, Microsoft, and Apple.

This thematic force boosted sentiment in the technology sector, providing overall support for risk assets.

Safe-haven assets strengthened, and signs of market pressure emerged, with gold surging to a historical high of approximately $4,600 per ounce. A weaker DXY and escalating risk events (such as investigations surrounding the Federal Reserve's independence) fueled a surge in demand for traditional safe-haven assets.

The VIX (Volatility Index) rose, reflecting increased short-term market volatility.

The banking and credit sectors faced pressure, with credit card companies' stock prices collectively falling by around 5-9%, partly due to concerns over potential policy proposals that could limit interest rates, reflecting short-term pressure on the financial sector.