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Finance

Nasdaq hits record high as bonds flash warning signs in U.S. stocks

U.S. stocks kept hitting record levels despite a sharp rise in Treasury yields, driven by strong gains in AI megacaps such as Nvidia, Microsoft and Meta, an analysis said. CNBC’s Jim Cramer said a handful of heavily weighted stocks were distorting indexes and masking broader weakness from higher rates. He pointed to pressure on defensive and utility shares and said investors should watch the bond market more closely than stock indexes for direction.

AI & Enterprise

Five worst-case scenarios if AI wipes out humanity

Artificial intelligence could threaten humanity through scenarios ranging from losing control to a superintelligence to bioweapons, nuclear war and social collapse. The more realistic risk may be society destabilising itself as mass unemployment, disinformation and political polarisation intensify, rather than AI suddenly attacking humans. University of New South Wales AI researcher Toby Walsh laid out five scenarios and said assessments should consider both current AI capabilities and real-world social impact.

Crypto

Global debt hits $365 trillion as stablecoin issuers emerge as major buyers of U.S. Treasuries

Global debt rose to a record $365 trillion early this year, the Institute of International Finance said in a global debt monitor. It attributed the increase to more borrowing by emerging markets, AI infrastructure investment and military spending. Separately, economists at the San Francisco Federal Reserve said the buyer base for U.S. Treasuries has shifted as foreign holdings fall. They said stablecoin issuers have rapidly increased holdings of short-term Treasuries.