Large parts of the U.S. stock market and funding markets have effectively entered a frozen state, leaving many stocks struggling, CNBC reported, citing Jim Cramer. He said high interest rates, geopolitical uncertainty and political factors are slowing activity and that investors should not rush to exit the market. Cramer pointed to a weak housing market, slower IPOs and mergers, and potential headwinds for data center investment. He said the backdrop could quickly improve if a war ends, easing oil prices, inflation and the risk of further rate hikes.

Coinbase is launching an IPO share allocation service for U.S. retail investors, starting with smart ring maker Oura ahead of its Nasdaq listing. Eligible users will be able to apply for shares at the offering price through the Coinbase app, subject to demand and available allocations. Coinbase said it will prioritize long-term holders and may restrict future participation for customers who sell within 30 days.