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U.S. Stock Indices Close Lower
All three major U.S. stock indices closed lower, with the Dow Jones down 1.88%, the Nasdaq down 1.98%, and the S&P 500 down 1.61%. Chip stocks fell sharply, with Qualcomm dropping over 6%, Broadcom, Western Digital, and ARM down over 5%, and TSMC, Micron Technology, and AMD down over 4%. NVIDIA fell 3.7%. Alcoa dropped 9.5%, marking its worst single-day performance since April 2025. Advanced Micro Devices closed down 28%, the largest decline since March.
All three major U.S. stock indices closed lower, with the Dow Jones down 1.88%, the Nasdaq down 1.98%, and the S&P 500 down 1.61%. Chip stocks fell sharply, with Qualcomm dropping over 6%, Broadcom, Western Digital, and ARM down over 5%, and TSMC, Micron Technology, and AMD down over 4%. NVIDIA fell 3.7%. Alcoa dropped 9.5%, marking its worst single-day performance since April 2025. Advanced Micro Devices closed down 28%, the largest decline since March.
Amazon Secures $17.5 Billion Loan Facility Led by Citigroup
On June 11, Amazon disclosed in regulatory filings that it has signed a loan agreement totaling $17.5 billion with a syndicate led by Citigroup. According to the regulatory documents submitted on Wednesday, the lenders have agreed to provide this delayed draw term loan (DDTL), which will remain available until the end of September this year. Amazon is required to repay any borrowed amounts within three years from the date of borrowing. The interest rate on the loan will be based on the secured overnight financing rate (SOFR), plus an additional 0.625 to 0.875 percentage points, depending on Amazon's credit rating. Other banks participating in this transaction include JPMorgan Chase, Bank of America, HSBC, and Wells Fargo, along with a dozen other banks involved in the financing.
On June 11, Amazon disclosed in regulatory filings that it has signed a loan agreement totaling $17.5 billion with a syndicate led by Citigroup. According to the regulatory documents submitted on Wednesday, the lenders have agreed to provide this delayed draw term loan (DDTL), which will remain available until the end of September this year. Amazon is required to repay any borrowed amounts within three years from the date of borrowing. The interest rate on the loan will be based on the secured overnight financing rate (SOFR), plus an additional 0.625 to 0.875 percentage points, depending on Amazon's credit rating. Other banks participating in this transaction include JPMorgan Chase, Bank of America, HSBC, and Wells Fargo, along with a dozen other banks involved in the financing.
《CLARITY Act》 Faces Dual Setback: Ethical Negotiations Collapse, Only 31-Day Window Before Senate Adjournment
BlockBeats News, June 11th, The "Cryptocurrency Market Structure Act" (known as the CLARITY Act) faced dual resistance in the U.S. Senate during its advancement. On Tuesday, a bipartisan group of senators met behind closed doors with Patrick Witt, Director of the White House Crypto Council, but the meeting was unproductive. The Republican Party and the White House overturned the preliminary ethical agreement reached before the May Banking Committee hearing, retracting the provision that allowed state attorneys general to sue the Department of Justice for failure to enforce the law. Legal experts pointed out that the state attorneys general could compel the Department of Justice to take action, which is legally unsustainable. The Republicans instead proposed limiting enforcement authority to federal prosecutors and using impeachment as an alternative accountability mechanism. However, Democratic senators called this a complete reversal, leading to a stalemate in negotiations, with further discussions expected on Thursday. Democratic Senators Gallego and Alsobrooks have explicitly stated that their support for the bill depends on whether a strong ethical firewall against Trump's crypto business interests can be included—Reuters estimates that Trump and his family have profited around $2.3 billion since returning to the White House.
Another major hurdle comes from law enforcement's concerns regarding Section 604 (the "Blockchain Regulatory Clarity Act")—this provision explicitly states that non-custodial software developers are not liable for third-party use of their code, but law enforcement believes this may weaken investigations into on-chain money laundering and other crimes. On Wednesday, the White House Crypto Council will convene representatives from the Sheriff's Association, the Fraternal Order of Police, as well as the Departments of Justice, Treasury, and FinCEN to discuss this provision. Government officials plan to emphasize that the provision does not provide a shield for criminals. Senators Warner and Cortez Masto have stated that they will not support the bill unless law enforcement's concerns are adequately addressed. The U.S. Senate has only 31 legislative days left before the August recess, which is widely seen as the informal deadline for passing bills before the midterm elections.
Meanwhile, the House Ways and Means Committee held a hearing on cryptocurrency taxation on Tuesday, deliberating on six Republican-led bills and a discussion draft covering mining, staking reward tax treatment, voluntary disclosure programs, among others. However, issues such as the minimum exemption threshold for small Bitcoin transactions, DeFi, and international tax frameworks remain unresolved.
BlockBeats News, June 11th, The "Cryptocurrency Market Structure Act" (known as the CLARITY Act) faced dual resistance in the U.S. Senate during its advancement. On Tuesday, a bipartisan group of senators met behind closed doors with Patrick Witt, Director of the White House Crypto Council, but the meeting was unproductive. The Republican Party and the White House overturned the preliminary ethical agreement reached before the May Banking Committee hearing, retracting the provision that allowed state attorneys general to sue the Department of Justice for failure to enforce the law. Legal experts pointed out that the state attorneys general could compel the Department of Justice to take action, which is legally unsustainable. The Republicans instead proposed limiting enforcement authority to federal prosecutors and using impeachment as an alternative accountability mechanism. However, Democratic senators called this a complete reversal, leading to a stalemate in negotiations, with further discussions expected on Thursday. Democratic Senators Gallego and Alsobrooks have explicitly stated that their support for the bill depends on whether a strong ethical firewall against Trump's crypto business interests can be included—Reuters estimates that Trump and his family have profited around $2.3 billion since returning to the White House.
Another major hurdle comes from law enforcement's concerns regarding Section 604 (the "Blockchain Regulatory Clarity Act")—this provision explicitly states that non-custodial software developers are not liable for third-party use of their code, but law enforcement believes this may weaken investigations into on-chain money laundering and other crimes. On Wednesday, the White House Crypto Council will convene representatives from the Sheriff's Association, the Fraternal Order of Police, as well as the Departments of Justice, Treasury, and FinCEN to discuss this provision. Government officials plan to emphasize that the provision does not provide a shield for criminals. Senators Warner and Cortez Masto have stated that they will not support the bill unless law enforcement's concerns are adequately addressed. The U.S. Senate has only 31 legislative days left before the August recess, which is widely seen as the informal deadline for passing bills before the midterm elections.
Meanwhile, the House Ways and Means Committee held a hearing on cryptocurrency taxation on Tuesday, deliberating on six Republican-led bills and a discussion draft covering mining, staking reward tax treatment, voluntary disclosure programs, among others. However, issues such as the minimum exemption threshold for small Bitcoin transactions, DeFi, and international tax frameworks remain unresolved.
Trump has spun the rise in U.S. inflation as a manageable development, declaring himself to have "fallen in love with inflation."
BlockBeats News, June 11th—Former President Trump responded to the record-high CPI data since April 2023 by saying, "I'm not worried, I actually love inflation." With the ongoing war soon to conclude, the US is set to take control of a significant amount of oil resources from Iran, which is expected to help stabilize future energy prices. Trump also revealed that the US secretly evacuated 22 ships full of oil in the middle of the night without lights or radar detection, stating, "Nobody knew, including Iran until now."
During a White House press briefing, Trump sat in front of his desk, using hand gestures to explain his points in a relaxed tone, attempting to frame the rising inflation as a proactive and manageable outcome rather than a warning sign of economic overheating.
BlockBeats News, June 11th—Former President Trump responded to the record-high CPI data since April 2023 by saying, "I'm not worried, I actually love inflation." With the ongoing war soon to conclude, the US is set to take control of a significant amount of oil resources from Iran, which is expected to help stabilize future energy prices. Trump also revealed that the US secretly evacuated 22 ships full of oil in the middle of the night without lights or radar detection, stating, "Nobody knew, including Iran until now."
During a White House press briefing, Trump sat in front of his desk, using hand gestures to explain his points in a relaxed tone, attempting to frame the rising inflation as a proactive and manageable outcome rather than a warning sign of economic overheating.
Trump Threatens New Strike on Iran Today, US Stocks Extend Losses, Gold Plunges 3.54% intraday
BlockBeats News, June 10th, according to Bitget market data, after Trump threatened to take action against Iran again today, the US stock market saw a further decline. The Nasdaq fell by nearly 1.5%, the Dow Jones fell by 1.2%, and the SP 500 Index dropped by 0.94%.
Spot gold continued its decline, falling by over $20 in the short term, a daily decline of 3.54%. WTI and Brent crude oil both saw a short-term increase of over $1, with an intraday increase of 2%, now trading at $90.78 per barrel and $92.77 per barrel, respectively.
BlockBeats News, June 10th, according to Bitget market data, after Trump threatened to take action against Iran again today, the US stock market saw a further decline. The Nasdaq fell by nearly 1.5%, the Dow Jones fell by 1.2%, and the SP 500 Index dropped by 0.94%.
Spot gold continued its decline, falling by over $20 in the short term, a daily decline of 3.54%. WTI and Brent crude oil both saw a short-term increase of over $1, with an intraday increase of 2%, now trading at $90.78 per barrel and $92.77 per barrel, respectively.
trade.xyz has launched perpetual contracts for Western Data (WDC), with up to 10x leverage.
BlockBeats News, June 10th, according to official sources, trade.xyz has launched perpetual contracts for the U.S. stock storage sector stock Western Digital (WDC), with up to 10x leverage.
BlockBeats News, June 10th, according to official sources, trade.xyz has launched perpetual contracts for the U.S. stock storage sector stock Western Digital (WDC), with up to 10x leverage.
Sickle Slashes at Index Fund Investors: S&P Dow Jones Indicates SpaceX Eligible for Fast Inclusion in Some Indexes
BlockBeats News, June 10th. Just as the scythe was swung towards index fund investors and American retirement savings accounts, S&P Dow Jones Indices has just announced that SpaceX is eligible for rapid inclusion in certain indexes.
However, compared to other index providers, S&P has already shown some convergence. In addition to S&P Dow Jones Indices, other independent index providers have also adjusted their rules for mega IPOs like SpaceX to be quickly included in their indexes. FTSE Russell recently implemented a new rapid entry mechanism, allowing eligible mega-cap companies (such as SpaceX) to be included in the Russell 1000/2000/3000 and FTSE Global Equity Index Series just 5 trading days after listing, mainly based on market capitalization thresholds. Furthermore, Nasdaq (especially Nasdaq 100) has also introduced new "rapid entry" rules, allowing mega IPOs like SpaceX to be included approximately 15 trading days after listing, forcing ETFs and funds tracking the Nasdaq 100 to buy a large number of shares in the short term.
Recently, S&P Dow Jones Indices made minor rule adjustments to some of its broad market indexes, mainly relaxing the requirements for public float. These indexes include the S&P Total Market Index and Dow Jones U.S. Total Stock Market Index. After the adjustment, newly listed companies with low public float but large market capitalization, like SpaceX, can be included shortly after listing without the need to meet the strict 12-month listing and profitability thresholds of the S&P 500.
Fortunately, S&P will maintain its existing eligibility requirements for major benchmark indexes like the S&P 500, rejecting the proposal to accelerate the rapid inclusion of mega-cap companies like SpaceX in the benchmark index after listing. There will be no shortening of the current 12-month "seasoning period" for new listings, nor exemptions based on company size from the existing profitability and public float requirements. This means that SpaceX will have to wait at least one year after listing to be included in the S&P 500.
BlockBeats News, June 10th. Just as the scythe was swung towards index fund investors and American retirement savings accounts, S&P Dow Jones Indices has just announced that SpaceX is eligible for rapid inclusion in certain indexes.
However, compared to other index providers, S&P has already shown some convergence. In addition to S&P Dow Jones Indices, other independent index providers have also adjusted their rules for mega IPOs like SpaceX to be quickly included in their indexes. FTSE Russell recently implemented a new rapid entry mechanism, allowing eligible mega-cap companies (such as SpaceX) to be included in the Russell 1000/2000/3000 and FTSE Global Equity Index Series just 5 trading days after listing, mainly based on market capitalization thresholds. Furthermore, Nasdaq (especially Nasdaq 100) has also introduced new "rapid entry" rules, allowing mega IPOs like SpaceX to be included approximately 15 trading days after listing, forcing ETFs and funds tracking the Nasdaq 100 to buy a large number of shares in the short term.
Recently, S&P Dow Jones Indices made minor rule adjustments to some of its broad market indexes, mainly relaxing the requirements for public float. These indexes include the S&P Total Market Index and Dow Jones U.S. Total Stock Market Index. After the adjustment, newly listed companies with low public float but large market capitalization, like SpaceX, can be included shortly after listing without the need to meet the strict 12-month listing and profitability thresholds of the S&P 500.
Fortunately, S&P will maintain its existing eligibility requirements for major benchmark indexes like the S&P 500, rejecting the proposal to accelerate the rapid inclusion of mega-cap companies like SpaceX in the benchmark index after listing. There will be no shortening of the current 12-month "seasoning period" for new listings, nor exemptions based on company size from the existing profitability and public float requirements. This means that SpaceX will have to wait at least one year after listing to be included in the S&P 500.
Federal Reserve Microphone: CPI Lays Groundwork for Fed Hawkish Pivot, Policy Debate Extends to "Whether Rate Hikes Should Be Back on the Table"
BlockBeats News, June 10th. Nick Timiraos, a reporter from
Looking ahead to next week's FOMC meeting, chaired for the first time by newly appointed Fed Chair Powell, Timiraos believes that the May CPI report has kept the Fed's recent hawkish turn intact. While it did not force them to become more hawkish today, the policy debate range has shifted from "maintaining rates for longer" to "whether to put rate hikes back on the table." This narrative was unthinkable when the market was still pricing in rate cuts at the beginning of the year. The Fed's threshold for patience has significantly increased, and one month of moderate data is not enough to change course.
BlockBeats News, June 10th. Nick Timiraos, a reporter from
Looking ahead to next week's FOMC meeting, chaired for the first time by newly appointed Fed Chair Powell, Timiraos believes that the May CPI report has kept the Fed's recent hawkish turn intact. While it did not force them to become more hawkish today, the policy debate range has shifted from "maintaining rates for longer" to "whether to put rate hikes back on the table." This narrative was unthinkable when the market was still pricing in rate cuts at the beginning of the year. The Fed's threshold for patience has significantly increased, and one month of moderate data is not enough to change course.
Nasdaq 100 Index Turns Positive
On June 10, U.S. inflation data met expectations, leading to a rebound in major U.S. stock indices. The Nasdaq, S&P 500, and Dow Jones all saw their declines narrow to 0.3%, with the Nasdaq 100 Index turning positive after previously dropping over 1%.
On June 10, U.S. inflation data met expectations, leading to a rebound in major U.S. stock indices. The Nasdaq, S&P 500, and Dow Jones all saw their declines narrow to 0.3%, with the Nasdaq 100 Index turning positive after previously dropping over 1%.
「White-Haired Stock God」 Evaluates Optical Concept Stocks' Rebound: Previous Market Sell-off Was Foolish
BlockBeats News, June 10th, "White-Haired Stock God" Serenity commented on the US stock market's pre-market session, highlighting the optical communication sector turning red, with AAOI and AXTI surging. Serenity expressed satisfaction with the slight rebound of optical concept stocks, from LITE to AAOI and SIVE. The previous market sell-off was simply a foolish act.
BlockBeats News, June 10th, "White-Haired Stock God" Serenity commented on the US stock market's pre-market session, highlighting the optical communication sector turning red, with AAOI and AXTI surging. Serenity expressed satisfaction with the slight rebound of optical concept stocks, from LITE to AAOI and SIVE. The previous market sell-off was simply a foolish act.