Daily Digest — 6 Jun 2026

Markets tumbled globally as artificial intelligence hype began to unravel, with the Nasdaq suffering its worst day since April 2025 with a 4% drop. The tech selloff accelerated after Meta shares sank on reports the company may raise tens of billions in new funding for AI development, raising questions about profitability timelines across the sector.

The crypto rout was even more severe, with Bitcoin crashing $200 billion in market value as investors fled to AI stocks, while Ethereum plunged 8% and Cardano hit four-year lows below 20 cents. Traditional safe havens like gold fell 3% as the dollar strengthened across major currencies.

Diplomatic tensions escalated as US and Iranian forces exchanged strikes in the Gulf, testing fragile ceasefire arrangements and sending oil down nearly 3% despite the conflict. In the UK, Prime Minister Starmer accused the US of interfering in British democracy after Vice President Vance’s comments on the Henry Nowak case.

The violence in the Middle East continued as an Israeli soldier shot dead a seven-month-old Palestinian baby near Hebron, while in Ghana, mounting arrests of critics under President Mahama sparked fresh concerns about press freedom across West Africa.