Ray Dalio, founder of Bridgewater Associates, said bitcoin still accounts for about 1 percent of his overall portfolio and that he prefers gold as an investment priority. He described bitcoin as a type of money that cannot be printed, but cited risks including technological change and potential government intervention such as monitoring or taxation. He also reiterated concerns about regulation and said central banks are unlikely to hold bitcoin in meaningful size.

Broadcom’s market capitalisation has fallen by more than $440 billion in a matter of days, reviving concerns that AI chip stocks are overvalued. Although Broadcom posted record quarterly revenue and tripled AI chip sales from a year earlier, its shares slid after it failed to meet market expectations for its growth path. The selloff spread to other AI- and semiconductor-heavy stocks, with Nvidia falling about 6 percent.