US stock market sees 'sell the news' trading, Nasdaq Composite drops more than 1%, Micron opens higher then slides, memory chip stocks hold firm.

Israeli Defense Minister Katz said the military will remain in the "security zones" in Lebanon, Syria, and Gaza as long as necessary. He added that despite pressure to withdraw troops, Israel opposes pulling out of the "security zone" in Lebanon, noting that Israel will not withdraw its forces.

U.S. equities opened higher then slid lower tonight. With no major breaking news, the Nasdaq 100 dropped 1,000 points in just 27 minutes, the S&P 500 erased $1 trillion in market capitalization, and quickly swung from +1% to -3% after the opening bell. Reviewing pre-market indicators, U.S. PCE inflation rose to 4.1%—its highest level since April 2023—paired with Apple’s announcement of up to 25% price hikes for Mac and iPad amid surging AI chip costs, which sent Apple’s stock plummeting nearly 6% and erasing $220 billion in market cap, sparking panic selling. Yet these developments alone do not appear to explain such a rapid, sharp market decline. The Kobeissi Letter attributes the heightened volatility to widespread leveraged ETFs, AI-related uncertainty, and massive liquidations in the crypto market, and forecasts that market volatility will persist.

According to monitoring by Onchain Lens, a crypto whale has allegedly created two new addresses and allocated $8 million to Hyperliquid via these addresses to open a 20x leveraged long position on 400 Bitcoin, valued at approximately $23.5 million.

Rosen Law Firm has launched an investigation into Strategy Inc, led by Michael Saylor, over potential securities law violations, possibly tied to misleading disclosures about the firm’s Bitcoin investment strategy. The investigation notice encourages affected shareholders to consult with the firm’s team, as it is reviewing whether Strategy Inc issued materially misleading business information; such actions are common when seeking to initiate class-action lawsuits.

Story, a project focused on on-chain intellectual property infrastructure, has been renamed DATA Foundation, shifting its business focus to AI training data and launching the on-chain data registration and auditing platform Trace. Story’s native IP tokens will be migrated 1:1 to the new DATA tokens, with holders not required to take any action; specific timelines and guidelines will be announced later. DATA also announced deep integration with AI training data marketplace Kled, bringing over 1.5 billion user-contributed data entries onto the DATA network. Via Trace, each data contribution generates an on-chain receipt that records data source, authorization method, contributor consent, and payment details, supporting settlement to contributors in stablecoins or fiat currency.

According to market data, Apyx Finance’s stablecoin apxUSD, backed by STRC, has depegged and is now trading at $0.7804. A similar depegging incident occurred with apxUSD on June 4.