Situational Awareness
🔻 Risk-off close, semis at the center. S&P 500 −1.01% to 7,457.69; Nasdaq −1.4% to 25,520.24; Dow −0.77% (−406.55) to 52,146.42. On the week: S&P −1.6%, Nasdaq −2.9%, Dow −0.9% — the damage was concentrated in chips.
🤖 The trigger is a model, not a data point. China’s Moonshot AI released Kimi K3, claiming parity with leading US fr…
