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Tech News
A Morning Risk Report roundup states that Nvidia's board is preparing to remove CEO Jensen Huang. The same briefing also notes United Airlines is barring AI bots from booking flights, and that the Justice Department and Treasury are in settlement talks with an oil-field services firm over payments made in Mexico.
FinCEN issued an order cutting off MEXC Global, a Seychelles-based exchange with over 40 million users, from the US financial system, citing at least $16 billion in illicit transactions between May 2021 and May 2026 linked to sanctions evasion and cybercrime. The Treasury Department said MEXC processed transactions tied to sanctioned Russian entities Garantex, Grinex and the A7 network, as well as roughly $1 billion with Iranian exchangers, blaming weak anti-money-laundering controls. MEXC said it is reviewing its compliance systems in response.
Jim Cramer said a sharp overnight decline in Brent crude, which fell 7.63% to $104.77 a barrel, pushed the 10-year Treasury yield to its lowest since Sept. 10 and lifted stocks across healthcare, financials, retail and travel. He cited Amazon, Waste Management, Medtronic, GE HealthCare and Intuitive Surgical as names that gained as investors revisited earnings reports previously overshadowed by higher rates.
The U.S. Treasury Department proposed a rule to tighten restrictions on American investments in high-tech sectors within China, Russia, North Korea, Cuba and Iran. The rule expands coverage to hypersonic systems, supercomputing, biotechnology and artificial intelligence (which Treasury labeled 'superintelligence'), building on a 2023 executive order and a December 2025 law that codified the outbound investment screening program.
A sharp selloff in technology stocks, led by Meta and chipmakers, pushed the Nasdaq to its worst day since June and sent investors into safe-haven assets. The 10-year U.S. Treasury yield fell below 5% for the first time in a month in its steepest one-day decline since March 2023, while Japanese government bonds and the yen also rallied on haven demand. Separately, Volvo Car shares fell as much as 30% in Stockholm after reporting a quarterly loss tied to weak U.S. and Chinese sales.
Since October 2025, gold has become the highest-value U.S. export category, surpassing oil, pharmaceuticals, and aircraft parts, with February 2026 shipments possibly setting a volume record. Most of the gold flows to Switzerland for refining, Hong Kong (a conduit to China), and the UK's London Bullion Market. U.S. official gold reserves remain unchanged, indicating the exports are sourced from mine output and recycling rather than government stockpiles.
The U.S. Treasury has fined Bank of America more than $1.2 billion for violating anti-money-laundering and sanctions laws, including failures to report financial crime. The penalty ranks as the Treasury's third-largest ever, behind fines levied against Binance and TD Bank. Bank of America's stock fell following the announcement.
Jim Cramer explained that increasing borrowing costs are creating a divide in the stock market, with traditional sectors facing constraints while AI-related companies remain largely unaffected. The recent Treasury bond auction, which saw strong demand and a brief yield spike, underscored the importance of borrowing costs for equities. AI firms like data centers, semiconductors, and cybersecurity companies continue to access financing easily, contributing to their market outperformance.
Treasury Secretary Scott Bessent's department is facing increased internal pressure amid departures of staff and goals that have not yet been met, according to the report. Details on which specific targets have been missed and which officials have left were not fully specified in the available summary.
The Nasdaq and S&P 500 reached new highs on Monday, with the Nasdaq closing at a record, despite Treasury yields climbing to multiyear peaks. Key companies like Nvidia, Microsoft, and Meta led the rally, supported by strong earnings and growth catalysts specific to each firm. This divergence suggests that investor enthusiasm for these tech giants is overshadowing broader bond market pressures.
A newly passed bipartisan bill directs the Treasury Department to stop minting pennies for general circulation, following last year's halt in regular production. The legislation includes one provision permitting the continued minting of commemorative 1-cent coins, even though they won't be meant for everyday spending.
Micron reported quarterly results that Jim Cramer called a 'great quarter,' but the stock dropped anyway amid concerns over its gross margin outlook and increased capital spending plans. Cramer noted Micron now has 26 strategic customer agreements, up from 16 last quarter, giving it better visibility into future demand, and he remains positive on the company's long-term outlook despite near-term stock weakness.