Crypto Market Fear Subsides Significantly, Today's Fear and Greed Index at 45

Beating AI News Flash: NVIDIA (NVDA.O) CEO Jensen Huang said at an event in Berlin that the current AI market turmoil will eventually pass, for a simple reason: AI will drive transformative change and deliver very positive impacts on every industry and every country. There is no doubt that AI development will continue to advance, and we are still in the early stages of this journey. Huang added that recent volatile market news will not alter the industry's fundamentals, and large-scale hardware investments will eventually yield returns and ease market unease. Amid the recent sell-off in AI chip and infrastructure stocks, as investors worry that rising borrowing costs could make AI investment spending unsustainable, Huang remains optimistic about the AI market and its overall economic impact. He advised investors to focus on first principles and fundamentals, and prioritize long-term value.

Payment technology firm Marqeta is expanding its partnership with Coinbase to enable enterprises to launch payment cards backed by customer stablecoin assets. Coinbase will handle stablecoin custody and digital-to-fiat conversion, while Marqeta will take charge of card issuance and payment processing. Coinbase’s Base blockchain will provide the on-chain settlement infrastructure. The service is available to Marqeta’s enterprise clients, spanning both the crypto industry and traditional businesses. Cardholders can spend stablecoins at millions of merchants worldwide that accept card payments, and enterprises can top up their payment card programs around the clock. The two companies have previously collaborated on Coinbase’s own debit card business. Currently, the pair has not disclosed specific fees, an official launch date, or the first types of stablecoins to be supported.

According to a New York Times report, U.S. Treasury data shows the U.S. federal budget deficit for fiscal 2026 climbed to $1.99 trillion, up from $1.78 trillion in fiscal 2025 — the highest level since the pandemic. Despite the Trump administration’s pledges to cut spending, military outlays, social security expenditures, and national debt interest have continued to rise, alongside a drop in corporate tax revenue, further expanding the fiscal gap. Data shows total U.S. government spending for fiscal 2026 rose 6% year-over-year to $7.4 trillion, while tax revenue grew 3% year-over-year to $5.4 trillion. Long-term interest rate increases pushed national debt interest payments up by more than $100 billion from 2025; additionally, the U.S. Supreme Court ruled that tariffs imposed by Trump on national security grounds were unlawful, forcing the government to refund over $100 billion in tariff revenue this year. Total U.S. national debt surpassed $40 trillion in August. With persistent inflationary pressures and Treasury yields hitting 20-year highs, the government’s financing costs have risen further. U.S. Treasury Secretary Bessent had previously aimed to cut the deficit-to-GDP ratio to 3%, but the ratio rebounded to above 6% in fiscal 2026. International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated that while economic growth could support efforts, it would not be fast enough to achieve the necessary fiscal adjustments.

According to BIT (bit.com) market data, U.S. stocks closed on Friday: the Nasdaq fell 2.14%, the S&P 500 index dropped 1.09%, and the Dow Jones initially closed down 0.34%. Coreweave (CRWV.O) declined 11.91%, SK Hynix (SKHY.O) fell 6.58%, Arm (ARM.O) down 6.94%, SanDisk (SNDK.O) down 6.85%, Oracle (ORCL.N) down 4.64%, Tesla (TSLA.O) down 2.13%. Strategy (MSTR) dropped 9.56%, SharpLink (SBET) down 7.46%, Bitmine (BMNR) down 7.28%, Circle (CRCL) down 5.46%, and Coinbase (COIN) down 5.79%.

According to BIT (bit.com) market data, the U.S. Nasdaq index’s decline widened to 2.36%, the S&P 500 fell 1.19%, and the Dow Jones Industrial Average dropped 0.58%. Individual stocks posted losses: SPCX fell 2.24%, ORCL dropped 4.42%, GOOGL declined 2.27%, NVDA fell 0.95%, and TSLA dropped 2.97%. For other AI-related concept stocks: Optical module stocks: COHR fell 6.26%, LITE dropped 3.87%, AAOI declined 7.89%, NOK fell 2.51%, MRVL dropped 4.2%; Storage stocks: SKHY fell 6.13%, MU dropped 4.33%, SNDK declined 5.3%, WDC fell 5.16%, STX dropped 5.97%.

According to market data from BIT (bit.com), the Nasdaq extended its decline to 2.2%, the S&P 500 fell 1.11%, and the Dow Jones Industrial Average dropped 0.54%.