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Tech Weekly: Market Dives After Week-Long Rally as China/US Tensions Reignite

This week, the technology sector remained the dominant force shaping overall market trends in the US, despite the ongoing complexity of macroeconomic and geopolitical conditions.

The partial US government shutdown continued to delay key economic reports, creating a data vacuum that heightened reliance on soft data like consumer sentiment surveys. Notably, the University of Michigan’s Consumer Sentiment Index held steady at a subdued 55, reflecting persistent concerns about high prices and a challenging labor market.

Meanwhile, Canada reported a surprising gain of 60,400 jobs in September, with employment increases concentrated in full-time positions and manufacturing. The unemployment rate held steady at 7.1 percent, defying expectations and signaling a cautious stabilization after recent job losses.

Investor appetite for AI and related innovation remained high, pushing the Nasdaq Composite (INDEXNASDAQ:.IXIC) and S&P 500 (INDEXSP:.INX) to record or near-record levels midweek. However, ongoing trade frictions between the US and China continue posing risks to semiconductor supply chains and international tech trade flows.

On Friday (October 10), China introduced additional export restrictions on rare earth metals and related refining technologies, expanding controls to five more elements critical for electronics, defense and high-tech industries. US President Donald Trump responded by threatening to escalate tariffs on Chinese imports and warned of the potential cancellation of his upcoming meeting with President Xi Jinping at APEC in South Korea.

The news sent major stock indexes lower, with the S&P 500 seeing its largest decline since tariffs were first announced in April and the Nasdaq Composite losing 3.56 percent. The Philadelphia SE Semiconductor Index led losses, pulling back 6.32 percent.

After a nearly three-year rally fueled by enthusiasm for AI, concerns among analysts and investors about elevated valuations and concentrated exposure in AI-related companies continue to emerge.

The Bank of England’s Financial Policy Committee warned of an increased risk of market correction, particularly in AI-focused tech firms, due to stretched valuations. They noted high market concentration in the S&P 500’s top five companies, many being AI-centric. Disappointing AI adoption or increased competition could trigger a downturn by reassessing high earnings expectations. Bottlenecks in AI advancements also pose valuation risks.

Similarly, IMF Managing Director Kristalina Georgieva warned that AI-fueled global stock prices are overvalued and vulnerable to a sudden correction. She cited weakening job creation and US tariffs as “troubling signs” that could lead to instability and dampen global growth.

Analysts from JPMorgan Chase & Co. (NYSE:JPM) also wrote in a Monday (October 6) note that AI-related debt has reached US$1.2 trillion, making it the largest segment in the investment-grade market. AI companies now represent 14 percent of the high-grade market, exceeding US banks. However, this debt is primarily in investment-grade bonds from companies with strong balance sheets,

This complex interplay of cautious optimism underscores the evolving narratives dominating the tech market.

Three tech stocks that moved markets this week

1. Advanced Micro Devices (NASDAQ:AMD)

AMD’s stock opened over 31 percent higher on Monday after announcing a multi-year deal to supply up to 6 gigawatts of AI chips to OpenAI, starting with its MI450 series in the second half of 2026.

The company extended its gains on Tuesday (October 7) after Jefferies upgraded the stock rating to “buy” as other brokerages hiked their price targets. The news helped temper losses seen throughout the tech sector as trade tensions escalated on Friday.

The partnership grants OpenAI warrants to acquire up to 160 million shares of AMD, representing around 10 percent ownership upon achieving deployment milestones. This deal positions AMD as a major AI hardware supplier and represents a challenge to Nvidia’s dominance in the sector.

2. Intel (NASDAQ:INTC)

Intel shares jumped as much as 3.05 percent on Friday after the company unveiled its Panther Lake architecture, the first PC processor built on its advanced 18A semiconductor manufacturing process, with high-volume production beginning later this year at its Fab 52 facility in Arizona.

Panther Lake is set to significantly enhance power efficiency and performance, delivering an anticipated 50 percent increase in CPU and GPU capabilities compared to earlier generations. This chip is designed for premium laptops and is central to Intel’s plan to re-establish its leadership in semiconductor manufacturing within the US.

Intel also previewed its first 18A-based server processor, Clearwater Forest, slated for release in the first half of 2026. Panther Lake is scheduled for commercial availability in early 2026, coinciding with major consumer electronics shows.

3. Tesla (NASDAQ:TSLA)

Tesla released the long-awaited lower-priced versions of the Model Y and Model 3 on Tuesday, with the Model Y Standard starting at US$39,990.

After an initial rally on Monday following a weekend teaser of the announcement, shares fell by as much as 4.57 percent after an underwhelming reaction to modest price cuts and the vehicles’ lack of key features present in the pricier models.

The company also reportedly paused large-scale production of its humanoid robot Optimus due to technical difficulties and faced a new preliminary safety investigation by the NHTSA into its Full Self-Driving system, covering nearly 2.9 million vehicles amid reports of traffic law violations.

Company announcements helped Intel and AMD weather sector-wide losses on Friday

Chart courtesy of Google Finance

ETF performance

This week, the iShares Semiconductor ETF (NASDAQ:SOXX) only declined by about 6.27 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) pulled back by approximately 6.49 percent.

For its part, the VanEck Semiconductor ETF (NASDAQ:SMH) only lost 5.86 percent.

These losses occurred against a backdrop of heightening trade tensions between tech’s two largest markets.

Other tech market news

            Tech news to watch next week

            Next week, investors will be closely monitoring a slate of important earnings reports from leading financial and technology companies, including JPMorgan Chase, Bank of America Corp (NYSE:BAC), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), IBM, Intel and Tesla.

            Additionally, the US government’s shutdown resolution or extension will affect the release of vital economic data, influencing market sentiment and investment strategies.

            On the policy front, investors should watch for Federal Reserve communications for clues on interest rate directions, as well as progress in US-China trade negotiations, which will undoubtedly define the near-term trajectory of the tech market.

            Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

            This post appeared first on investingnews.com
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            China outlines more controls on exports of rare earths and technology

            HONG KONG — China outlined new curbs on exports of rare earths and related technologies on Thursday, extending controls over use of the elements critical for many high-tech and military products ahead of a meeting in about three weeks between President Donald Trump and Chinese leader Xi Jinping.

            The regulations announced by the Ministry of Commerce require foreign companies to get special approval to export items that contain even small traces of rare earths elements sourced from China. These critical minerals are needed in a broad range of products, from jet engines, radar systems and electric vehicles to consumer electronics including laptops and phones.

            Beijing will also impose permitting requirements on exports of technologies related to rare earths mining, smelting, recycling and magnet-making, it said.

            China accounts for nearly 70% of the world’s rare earths mining. It also controls roughly 90% of global rare earths processing. Access to such materials is a key point of contention in trade talks between Washington and Beijing.

            As Trump has raised tariffs on imports of many products from China, Beijing has doubled down on controls on the strategically vital minerals, raising concerns over potential shortages for manufacturers in the U.S. and elsewhere.

            It was not immediately clear how China plans to enforce the new policies overseas.

            During a cabinet meeting Thursday, Trump said he had yet to be briefed on the new rules but suggested that the U.S. could stop buying Chinese goods. “We import from China massive amounts,” Trump said. “Maybe we’ll have to stop doing that.”

            Neha Mukherjee, a rare earths analyst at Benchmark Mineral Intelligence, called the new export controls “a strategic move by China that mirror some of Washington’s new chip export rules.

            “Most rare earth magnet manufacturers in the U.S., Japan and elsewhere remain heavily dependent on rare earths from China, so these restrictions will force some difficult decisions — especially for any company involved in military uses of rare earths because most of those export licenses are expected to be denied, he said.

            “The message is clear: if the U.S. and its allies want supply chain security, they must build independent value chains from mine to magnet,” Mukherjee said.

            The new restrictions are to “better safeguard national security” and to stop uses in “sensitive fields such as the military” that stem from rare earths processed or sourced from China or from its related technologies, the Commerce Ministry said.

            It said some unnamed “overseas bodies and individuals” had transferred rare earths elements and technologies from China abroad for military or other sensitive uses which caused “significant damage” to its national security.

            The new curbs were announced just weeks ahead of an expected meeting between Trump and Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation forum in South Korea, that begins at the end of this month.

            “Rare earths will continue to be a key part of negotiations for Washington and Beijing,” George Chen, a partner at The Asia Group, said in an emailed comment. “Both sides want more stability but there will be still a lot of noises before the two leaders, President Trump and Xi, can make a final deal next year when they meet. Those noises are all negotiation tactics.”

            These new restrictions will likely prompt additional government and private investments in developing a mine-to-magnet supply chain outside of China. Mukherjee said that $520 million of investments in the American rare earths industry were announced just in the second quarter with most of that coming from the government.

            And there is some progress already being made with American magnet maker Noveon announcing an agreement with Lynas Rare Earths this week to secure a supply of rare earths outside of China from Lynas’ mine in Australia, and MP Materials preparing to begin producing magnets later this year at its new plant in Texas that uses rare earths from the only U.S. mine that it operates in California.

            In July, the U.S. Defense Department agreed to invest $400 million in shares of the Las Vegas company, establish a floor for the price of key elements, and ensure that all of the magnets made at a new plant in the first 10 years are purchased.

            An MP Materials spokesperson said China’s action “reinforces the need for forward-leaning U.S. industrial policy. Building resilient supply chains is a matter of economic and national security.”

            Wade Senti, president of the U.S. permanent magnet company AML, said it’s time to innovate.

            “The game of chess that China is playing underscores the importance of developing innovation that changes the game and puts the United States in leading position,” Senti said.

            Nazak Nikakhtar, a former Commerce Department undersecretary, said the new restrictions are “a significant development and escalation” by extending controls to related technology and equipment and to sectors like chipmakers. “This should be a wake-up call to the U.S. government that we need to invest in and appropriate more to domestic capabilities. Both are critical to rebuild America’s rare earths industrial base,” she said.

            In April, Chinese authorities imposed export curbs on seven rare earth elements shortly after Trump unveiled his steep tariffs on many trading partners including China.

            While supplies remain uncertain, China approved some permits for rare earth exports in June and said it was speeding up its approval processes.

            This post appeared first on NBC NEWS
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            Venezuelan Nobel Peace Prize winner María Corina Machado dedicates award to Trump for ‘decisive support’

            Venezuelan opposition leader and newly minted Nobel Peace Prize winner María Corina Machado dedicated the award on Friday to both President Donald Trump and the ‘suffering people of Venezuela.’

            Machado, a leading figure in the resistance against Venezuela’s ruling party, took to X to acknowledge the honor and to praise Trump for his support.

            ‘This recognition of the struggle of all Venezuelans is a boost to conclude our task: to conquer Freedom,’ Machado said. ‘We are on the threshold of victory and today, more than ever, we count on President Trump, the people of the United States, the peoples of Latin America, and the democratic nations of the world as our principal allies to achieve Freedom and democracy. 

            She added, ‘I dedicate this prize to the suffering people of Venezuela and to President Trump for his decisive support of our cause!’

            Machado has previously been outspoken in her support for the Trump administration’s actions against Venezuelan President Nicolás Maduro’s regime and the country’s narco-trafficking network.

            Last month, following reports that a U.S. strike killed 11 alleged Tren de Aragua narco-terrorists transporting drugs from Venezuela, Machado appeared on ‘Fox & Friends’ to discuss Maduro’s leadership, saying it was time for him ‘to go.’

            ‘On behalf of the Venezuelan people, I want to tell you how grateful we are to President Trump and the administration for addressing the tragedy that Venezuela is going through,’ Machado said at the time. ‘ … Maduro has turned Venezuela into the biggest threat to the national security of the U.S. and the stability of the region.’

            Trump has also been a vocal critic of Maduro, and the U.S. is among several countries that do not recognize Maduro’s government as legitimate, according to Reuters.

            In last year’s election, Machado rallied millions of Venezuelans to reject Maduro. She was described as a ‘brave and committed champion of peace’ by Joergen Watne Frydnes, chair of the Norwegian Nobel Committee.

            ‘She is receiving the Nobel Peace Prize for her tireless work promoting democratic rights for the people of Venezuela and for her struggle to achieve a just and peaceful transition from dictatorship to democracy,’ Frydnes said.

            Trump was also among the contenders for this year’s Nobel Peace Prize, awarded annually to an individual or organization that has made significant contributions to global peace, in the wake of his brokering a historic deal between Israel and Hamas. 

            Fox News Digital’s Rachel Wolf and Elizabeth Pritchett contributed to this report.

            This post appeared first on FOX NEWS
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            Chairman Joins Prime Minister’s India Trade Visit

            Robin Brundle joins Prime Minister on first major trade mission to India

            Mr Brundle joins 125-strong delegation of leading business representatives, academic and cultural leaders, and government ministers on UK’s largest ever trade mission to India

            Technology Minerals Plc (LSE: TM1), the first UK listed company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its Chairman, Robin Brundle, has joined the UK Prime Minister Keir Starmer, and a 125-strong business delegation on the Government’s trade mission to India this week.

            The largest ever UK Government trade mission to India brings together leading CEOs, entrepreneurs, academic and cultural institutions. The mission aims to strengthen bilateral trade and investment, while advancing discussions on the UK’s resilience within the critical mineral strategy, a vital step toward sustainable industrial growth.

            Mr Brundle is a respected business leader and trusted contributor to government policy on battery strategy via parliamentary committees in both the House of Lords and the House of Commons. His participation in the delegation reflects a commitment to advancing circular economy solutions and building international partnerships that contribute to long-term industrial and environmental sustainability.

            Recyclus Group Ltd (‘Recyclus’), the Company’s 48.35% owned battery recycling business, has previously been selected to join the UK and Indian Governments’ Innovating for Transport and Energy (‘ITES’) scheme to achieve net zero, and Mr Brundle has extensive knowledge of the commercial opportunities presented by India’s burgeoning lithium-ion electric battery sector.

            The visit seeks to build upon the momentum from the landmark UK-India trade deal signed in July 2025, which is projected to increase UK GDP by £4.8 billion per annum. Other companies represented in the delegation include major household names such as Rolls Royce, British Airways and the London Stock Exchange.

            Robin Brundle, Executive Chairman of Technology Minerals and Recyclus Group and Co-Founder of Recyclus Group, said: ‘I am honoured to play a role on this industrial and commercial trade mission, which represents a valuable opportunity to engage directly with Indian and UK stakeholders on the critical minerals and sustainable technology agenda. India is one of the fastest growing economies globally, and through Recyclus’ existing links with the UK and Indian Government’s Innovating for Transport and Energy scheme, we are well placed to support the region’s transition towards electrification.’

            This is an industrial and commercial mission, not a political one. Recyclus remains proudly politically agnostic as it continues to drive innovation and collaboration in the circular economy.

            Enquiries

            Technology Minerals Plc

            Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. Further information on Technology Minerals is available at www.technologyminerals.co.uk.

            Recyclus Group Ltd

            Since July 2023, Recyclus Group has operated a national, industrial-scale lithium-ion battery recycling service that supports the UK’s transition to carbon neutrality. The Group’s commitment to cradle-to-cradle battery recycling reduces reliance on the extraction of virgin materials, promotes a circular economy for these metals within the UK, supports the advancement of next-generation recycling technologies, and aligns with the UK’s resilience and critical minerals strategy.

            With strategic backing from Technology Minerals, Recyclus plays a central role in lithium-ion battery recycling and contributes significantly to the circular economy for battery metals.

            Further information on Recyclus Group is available at https://www.recyclusgroup.com/

            Source

            This post appeared first on investingnews.com
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            China Heightens Rare Earths Export Controls, Includes Tech and Defense Sectors

            China has sharply expanded its export controls on rare earth elements and related technologies, tightening its grip on a strategically vital sector just weeks before a possible meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea.

            The Ministry of Commerce announced Thursday (October 9) that five additional rare earth elements: holmium, erbium, thulium, europium, and ytterbium, along with dozens of refining technologies and pieces of equipment, have been added to its export control list.

            Foreign companies that produce rare earth materials or magnets using Chinese equipment or materials will now require export licenses from Beijing, even if no Chinese entity is directly involved in the transaction.

            Applications linked to defense industries or advanced semiconductor production, such as 14-nanometer chips, memory chips with 256 layers or more, or artificial intelligence with military applications, will face heightened scrutiny or outright denial.

            Rare earth elements are essential to manufacturing electric vehicles, wind turbines, smartphones, and defense systems, including fighter jet engines and radar. China accounts for about 70 percent of global production and over 90 percent of processing capacity, giving it a near-monopoly over the supply chain.

            The new measures take effect in stages: restrictions on rare earth exports and processing technologies begin November 8, while the rules governing products made with Chinese inputs will come into force on December 1.

            The move also tightens Beijing’s control over Chinese nationals, prohibiting them from engaging in overseas rare earth mining, magnet manufacturing, or technical consulting without official approval.

            Meanwhile, companies outside China are emphasizing their independence from Chinese materials and technology.

            Energy Fuels (NYSEAMERICAN:UUUU,TSX:EFR), which operates a uranium and rare earths facility in Utah, said that it is ramping up domestic production to counter supply risks. Meanwhile, NioCorp NASDAQ:NB), which is developing a rare earths mine in Nebraska, said the move reflects China’s increasing militarization of the sector.

            “It’s clear that the People’s Liberation Army is increasingly calling the shots on rare earth policy in China. That means even more difficult times both for the Pentagon and for a wide range of commercial manufacturers,” the company told Reuters.

            Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF), a Canada-based developer of rare earth separation technology, said its Louisiana Strategic Metals Complex (LA-SMC) will remain unaffected.

            “Today’s expansion of Chinese export controls underscores why Ucore built its plan around North American and allied supply chains from day one,” said Ucore CEO Pat Ryan in a recent statement. “Our RapidSX refining technology not only produces the same rare earth products, at the same quality, as legacy solvent extraction, but does so with faster throughput in a much reduced floorspace.”

            Ucore said its equipment sourcing strategy relies entirely on North American suppliers and is protected under the US Defense Priorities and Allocations System (DPAS), which prioritizes key national defense projects to ensure supply chain resilience.

            Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

            This post appeared first on investingnews.com
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            Georgia’s Mike Collins needles Ossoff in new ad over shutdown’s toll on airports, workers

            Rep. Mike Collins, R-Ga., launched a digital ad on Friday tying Sen. Jon Ossoff, D-Ga., to the ongoing government shutdown — and its drag on Georgia’s airports.

            ‘Flights DELAYED. Military families NOT getting paid. And for what? To demand FREE healthcare of illegal immigrants,’ the graphic reads.

            Collins, who has represented Georgia’s 10th Congressional District since 2023, is running to take Ossoff’s seat in 2026.  

            His ad marks the most recent attempt by Republicans to tie Democrats to the government’s shutdown and highlight its impact on both the national and local levels.

            ‘Crucial air traffic controllers are working without pay, travelers are facing delays, and government workers face uncertainty because Ossoff and Schumer are playing political games with our government. It’s time to stop the charade and end the shutdown now,’ Collins said in a statement to FOX.

            The government entered a shutdown on Oct. 1 after lawmakers failed to reach an agreement over federal spending to begin the 2026 fiscal year. Last month, Republicans in the House of Representatives advanced a spending extension to cover the government’s costs through Nov. 21. 

            But that legislation has stalled in the Senate, where Democrats are demanding that any spending package also include an extension of COVID-era subsidies for Obamacare health insurance premiums that are set expire at the end of the year.

            Republicans, who hold 53 seats in the Senate, need the support of at least seven Democrats to clear the 60-vote threshold needed to overcome a filibuster. 

            The Senate has voted on a spending extension seven times as of Friday. Ossoff, the target of Collin’s ad, has voted alongside his Democratic colleagues against the short-term spending extension on each occasion.

            Senators left Washington, D.C., on Thursday afternoon and are not expected to resume votes on government spending until next week.

            With the stalemate having entered its 10th day, many essential government workers who have been asked to work without pay, will soon begin to miss paychecks. 

            Georgia is home to over 110,000 government workers.

            Collins noted that airline employees, such as TSA agents, are among those who have no choice but to work because of their critical role. That, Collins argued, has compounded a shortage of traffic controllers, leading to flight delays. 

            According to Flight Aware, an online flight-tracking service, Hartsfield-Jackson Atlanta International Airport had 426 flight delays on Thursday with nine cancellations.

            Ossoff won election to the Senate in 2020, beating out Republican challenger David Perdue in a narrow 50.6% – 49.4% victory. His office did not immediately respond to a request for comment. 

            This post appeared first on FOX NEWS
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            Bondi announces arrest of ‘coward’ who allegedly threatened conservative influencer following Kirk’s murder

            U.S. Attorney General Pam Bondi said a ‘coward hiding behind a keyboard’ was arrested this week for allegedly sending a threatening letter to conservative influencer Benny Johnson in the wake of Charlie Kirk’s assassination. 

            George Isbell Jr., 69, was taken into custody on Tuesday in San Diego, California. He will be federally charged with mailing a threatening communication, according to Bondi. On his website, Johnson said he resides in Tampa, Florida, where the announcement of the arrest was made Friday.

            ‘Benny is a well-known media personality, carrying a message very similar to Charlie’s. Grounded largely in faith and love of country. Just days after Charlie’s assassination, Benny received a letter at his home where he and Kate are raising their beautiful, beautiful young family,’ Bondi said. ‘The author of this letter made it very clear that he hated Benny because of his views, and he wanted Benny dead.’ 

            ‘This was a coward hiding behind a keyboard who thought he could get away with this. That’s why we’re standing up here today. You are not going to get away with threatening people in this way. And I’m proud to announce that we have arrested the author of this letter,’ Bondi added. 

            She said earlier that, ‘we’ve been living through a horrific cycle of political violence in this country.’ 

            ‘We are going to catch you if you think you can do something like this,’ Bondi declared. ‘We don’t care if you’re across the country in California, we will find you. We will arrest you, we will extradite you, and we will bring you to justice. We cannot allow this political violence to continue any longer. This arrest will serve as a reminder to many — do not do this. We will find you.’ 

            U.S. Attorney Gregory Kehoe for the Middle District of Florida told reporters Friday that Johnson ‘immediately contacted’ the Tampa Police Department after receiving the letter. The FBI and the Florida Department of Law Enforcement assisted in the investigation, while the U.S. Postal Service determined the letter originated from San Diego, California, Kehoe added. 

            Fingerprints that were obtained from the letter led investigators to Isbell, according to Kehoe. 

            ‘According to the complaint, on or about Sept. 18, Isbell mailed a letter from San Diego threatening to injure his victim, a media personality located in Tampa, Florida, and telling his victim that the victim needed ‘to be exterminated,’’ the Justice Department said in a statement Friday.

            ‘In the letter, he referenced one of the victim’s friends, Mr. Charlie Kirk, a conservative political activist who had recently been killed during a public engagement on a college campus. After writing that he hoped that the American flag ‘strangles the life out of you,’ the letter went on to state: ‘Maybe someone will blow your head off!!! We can hope! Planning any public engagements? Love to see your head explode and your blood stain the concrete red. What a sight!’’ the Justice Department added.

            If convicted, Isbell could face a maximum sentence of five years.

            Johnson told Fox News Digital on Friday afternoon, ‘The major question here is, how many of us need to die? And, you know, until people take it seriously?’

            Speaking alongside Bondi in Florida, Johnson said, ‘I don’t want political violence. I want peace in my nation.’ 

            ‘I love this country. I want to be able to debate like Charlie did. I want to be able to raise my family in peace. That is our birthright. But you cannot make peace with evil as a Christian. You cannot unite with people who want you dead. I want unity in this nation,’ he added. 

            This post appeared first on FOX NEWS
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            Johnson raises stakes on Schumer as government shutdown barrels into week 3

            Speaker Mike Johnson, R-La., declared the House of Representatives out of session for a third straight week in a bid to keep pressure on Senate Democrats in Washington.

            The speaker appears to be raising the stakes on lawmakers across the aisle, who keep refusing the GOP’s plan to fund government agencies on a short-term basis in favor of making demands on healthcare that Republicans are calling unreasonable.

            The government shutdown is poised to roll into a third week after Senate Democrats sunk the GOP’s federal funding bill seven times, most recently on Thursday.

            The House passed the bill on Sept. 19 and has not been in session since. The measure, called a continuing resolution (CR), is aimed at keeping the government funded at current levels through Nov. 21, in order for congressional negotiators to have more time to strike a longer-term deal for fiscal year (FY) 2026.

            Democrats, furious at being sidelined in federal funding discussions, have been withholding their support for any spending bill that does not also extend COVID-19 pandemic-era enhanced Obamacare subsidies that are due to expire at the end of this year.

            Johnson’s decision was made public on Friday afternoon during a brief pro forma session in the House. Under rules dictated by the Constitution, the chamber must meet for brief periods every few days called ‘pro forma’ sessions to ensure continuity, even if there are no formal legislative matters at hand.

            Pro forma sessions can also be opportunities for lawmakers to give brief speeches or introduce legislation that they otherwise would not have. 

            Johnson’s decision comes after he canceled votes on Sept. 29 and Sept. 30 in an effort to press the Senate to take up the House’s CR. He canceled votes the following week as well.

            The House GOP leader told fellow Republicans on a private call Thursday that he would give them 48 hours’ notice before they needed to return to Washington.

            Johnson has suggested multiple times in public and in private that he would reopen the House when Senate Democrats relented on the CR.

            In the meantime, he’s asking House Republicans to remain in their districts to drive home the effects of the government shutdown on everyday Americans.

            The strategy has gotten pushback from some members of his conference, including those who are pushing for a standalone vote on legislation ensuring the military is paid during the shutdown.

            Without action by Congress or the White House, active duty service members who are made to work during the shutdown — as well as others on the federal payroll — are set to miss paychecks on Oct. 15 if the standoff continues.

            At least three House Republicans have also suggested they want the House to return to its business next week — Reps. Jay Obernolte, R-Calif., and Julie Fedorchak, R-N.D., said so on the Thursday call, while Rep. Kevin Kiley, R-Calif., made his concerns public on X.

            But tensions ran high among the few lawmakers who were in Washington this week, with two Senate Democrats confronting Johnson and Rep. Mike Lawler, R-N.Y., getting into a screaming match with House Minority Leader Hakeem Jeffries, D-N.Y., over Obamacare subsidies.

            Asked about the conflicts, Johnson suggested it was part of the reason House lawmakers should remain out of Washington until the shutdown ends.

            ‘I’m a very patient man. But I am very angry right now because this is dangerous stuff. And so, is it better for them to be physically separated right now? It probably is,’ he said on Thursday.

            ‘Frankly, I wish that weren’t the case. But we do have to turn the volume down. The best way to turn the volume down is to turn the lights back on and get the government open for the people.’

            This post appeared first on FOX NEWS
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            Crypto Market Update: Altcoins Retreat as Bitcoin ETFs See US$2.7 Billion of Inflows

            Here’s a quick recap of the crypto landscape for Friday (October 10) as of 9:00 a.m. UTC.

            Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

            Bitcoin and Ether price update

            Bitcoin (BTC) was priced at US$121,578, down by 1.6 percent in 24 hours. The cryptocurrency’s lowest valuation of the day was US$119,967, and its highest was US$123,548.

            Bitcoin price performance, October 10, 2025.

            Bitcoin price performance, October 10, 2025.

            Chart via TradingView

            Bitcoin may be trading near record highs, but one of its most respected on-chain indicators suggests the rally could still have significant room to run possibly as far as US$180,000.

            The Mayer Multiple, a long-term metric that compares Bitcoin’s current price to its 200-week moving average, remains well below levels that have historically marked market tops.

            “Bitcoin is at all-time highs and the Mayer Multiple is ice cold,” crypto analyst Frank Fetter wrote on X (formerly Twitter). According to Fetter, Bitcoin would need to climb to around US$180,000 before the indicator flashes “overbought” conditions, implying that the current cycle could still have room to expand.

            The indicator’s historical context adds weight to that view. During Bitcoin’s 2017 and 2021 peaks, the Mayer Multiple surged well above 2.4, signaling excessive market exuberance before major corrections followed.

            This time, the pattern looks different. The Multiple’s highest level in the current cycle—1.84 in March 2024, when Bitcoin neared US$72,000—never approached prior extremes, according to Glassnode data. Analysts see this moderation as a sign of a more sustainable advance.

            Despite these encouraging on-chain signals, not everyone is convinced the path higher will be smooth. Short-term traders remain divided on whether Bitcoin can maintain momentum into the final quarter of the year.

            Trader Tony “The Bull” Severino argued that Bitcoin may be entering a decisive 100-day window. Writing on X, Severino pointed to the Bollinger Bands indicator on Bitcoin’s weekly chart, which has tightened to levels not seen before. He noted that Bitcoin’s recent inability to hold above US$126,000, after briefly testing the upper band, could signal a short-term pullback before any sustained breakout.

            Ether (ETH) also slid after last week’s rally, but has since recovered some of its losses. It was up by 0.7 percent over 24 hours to US$4,365.58. Ether’s lowest valuation on Friday was US$4,285.77, and its highest was US$4,401.99.

            Altcoin price update

            • Solana (SOL) was priced at US$222.58, an increase of 1.1 percent over the last 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$217.57.
            • XRP was trading for US$2.83, trading flat over the last 24 hours. Its lowest valuation of the day was US$2.78, and its highest was US$2.84.

            Derivatives trends

            The crypto derivatives market saw heavy liquidations over the past 24 hours, totaling roughly US$674 million, according to Coinglass data. Long positions accounted for US$505 million of that amount, while short positions made up US$169 million, marking one of October’s sharpest liquidation waves.

            Among major assets, Bitcoin long liquidations reached US$116 million, compared to US$68.22 million in shorts, indicating that overleveraged bullish traders bore the brunt of the latest downturn. Ether long positions were liquidated for US$146 million, against US$34.54 million in shorts, reflecting a similar shakeout of optimistic bets amid heightened volatility.

            Despite the sell-off, futures open interest for Bitcoin rose 0.23 percent in the last four hours to US$90.19 billion, suggesting that traders are gradually re-entering positions or maintaining leverage at elevated levels.

            Ether futures open interest also ticked up 0.22 percent to US$59.53 billion, showing that market participants remain engaged even after widespread liquidations.

            Bitcoin’s relative strength index (RSI) at 72.15 indicates that the asset remains in overbought territory, potentially signaling near-term price swings or corrective moves. Still, the market’s resilience near the US$120,000 level points to continued speculative interest.

            Today’s crypto news to know

            XRP, DOGE, SOL slip as US$2.7 billion flows into Bitcoin ETFs

            Major altcoins faced losses Friday as traders took profits from Bitcoin’s record-breaking rally, even as spot ETF demand remained strong.

            Bitcoin briefly dipped to around US$120,000 overnight before stabilizing near US$122,000, while Ether erased its weekly gains with a 2.4 percent drop.

            Solana, XRP, Dogecoin, and Cardano each slid up to 3 percent, according to CoinDesk data. Despite the retreat, US-listed Bitcoin ETFs drew US$2.72 billion in inflows this week, highlighting resilient institutional appetite.

            The ETF surge underscores Bitcoin’s growing role as a “digital safe-haven,” especially as gold surged above Us$4,000 an ounce. However, a possible pullback to the US$107,000–US$115,000 range could be imminent ahead of the Federal Reserve’s October 29 policy meeting.

            EU dismisses ECB’s call for new stablecoin rules

            The European Commission said Friday that existing crypto regulations under MiCA are adequate to handle stablecoin risks, pushing back on calls from the European Central Bank for stricter oversight.

            According to a Reuters report, the ECB had urged Brussels to introduce new safeguards against “multi-issuance” models, where stablecoins minted outside the EU could be treated as interchangeable with those issued within.

            Industry groups, including members like Circle, asked the Commission to formally clarify that multi-issuance is allowed under current rules.

            In a statement to Reuters, the Commission said MiCA already provides a “robust and proportionate framework” and that further guidance will be published soon.

            The ECB’s main concern is that redemptions from non-EU tokens could drain reserves inside the bloc, posing systemic risks. Stablecoin issuers countered that their reserve structures already mitigate such threats.

            Bitcoin ETFs extend Uptober gains as Ethereum products lose momentum

            US spot Bitcoin ETFs posted another strong day Tuesday, with US$197.8 million in net inflows, reinforcing Bitcoin’s dominance as institutional investors rotated away from Ethereum products.

            Data from SoSoValue showed total Bitcoin ETF assets climbing to US$164.79 billion, representing nearly 7 percent of Bitcoin’s market cap.

            BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led inflows with US$255 million, extending its lead over rivals as total assets surpassed $97 billion. Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) and Grayscale Bitcoin Trust (NYSEARCA:GBTC) saw outflows of US$13 million and US$45 million, respectively.

            The renewed demand follows a surge of US$1.19 billion in inflows earlier this week, the highest since July, with BlackRock again accounting for the majority.

            Bitcoin has gained over 10 percent in October, peaking at US$126,080 before easing to $121,000. Meanwhile, Ethereum ETFs snapped their eight-day inflow streak with US$8.7 million in withdrawals, reflecting a temporary pause after a strong start to the month.

            Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

            Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

            This post appeared first on investingnews.com
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            Silver Storm Secures US$7 Million Samsung Financing to Restart Mexican Silver Mine

            Canadian miner Silver Storm Mining (TSXV:SVRS,OTCQB:SVRSF) has signed a US$7 million offtake prepayment deal with Samsung Construction and Trading (HKEX:028260) and two of its subsidiaries to help restart production at its La Parrilla silver mine complex in Durango, Mexico.

            Under the agreement announced Friday (October 10), Samsung and subsidiaries will provide the financing through a secured prepaid facility over 18 months.

            Samsung will receive 100 percent of the lead-silver and zinc concentrates produced at La Parrilla over a two-year period under the offtake agreement. The financing is secured through a corporate guarantee, a share pledge, and first-ranking security on La Parrilla’s assets.

            Silver Storm said the facility carries an interest rate of the one-month Secured Overnight Financing Rate (SOFR) plus 4.75 percent, with a six-month grace period for interest and capital repayments.

            Repayments will then be made in equal monthly installments over the following 12 months, potentially offset through concentrate sales.

            “The company has sufficient liquidity to complete the planned restart and rehabilitation activities at La Parrilla,” said Silver Storm President and CEO Greg McKenzie. “Samsung’s involvement as a guaranteed purchaser for the concentrates reflects the confidence of a leading industry participant in our path forward and provides Silver Storm with another partner that is committed to bringing La Parrilla back into operation.”

            The company added that the proceeds will go toward mill rehabilitation and upgrades, underground development, and working capital for the restart phase.

            Once a prolific producer of silver and base metals, the La Parrilla complex includes a 2,000-metric-ton-per-day mill and several underground mines.

            The company expects operations to resume in the first half of 2026.

            The project’s revival is seen as a key milestone for Silver Storm, which holds a 100 percent interest in La Parrilla and the San Diego Project, another large undeveloped silver asset in Durango.

            Samsung’s participation, meanwhile, underscores the continued interest of major industrial players in securing critical mineral supply chains.

            Offtake financing deals of this nature provide both upfront capital for miners and stable sourcing arrangements for buyers, which is an increasingly common structure in metals markets amid rising demand for silver and other transition-linked minerals.

            In recent days the price of silver has reached record highs of US$51 per ounce, alongside sister metal gold which surpassed the US$4,000 level. As the precious metals suite continues to trend higher more sidelined and shuttered projects could be brought online.

            Shares of Silver Storm rose 3.30 percent to C$0.235, following the Friday announcement.

            Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

            This post appeared first on investingnews.com
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