The first AI stress test shakes the chip rally – Samsung's 19-fold earnings explosion is not enough and sends Micron, Sandisk & Co. into a tailspin, while NVIDIA suffers under DeepSeek's own AI chip – DAX dips below the 25,700-point mark after three record days, Siemens Energy crashes by 7% after Barclays downgrade – SpaceX storms into the Nasdaq-100 just 15 days after its IPO – Saab displaces Boeing – Vertex targets Crinetics, while the Iran conflict drives oil prices toward $73

USA & MACRO-ENVIRONMENT Wall Street shifts away from its carelessness The Nasdaq 100 falls by about 2.01%, while the broader S&P 500 remains relatively stable with a decline of 0.53% – a divergence that captures the essence of the day: The sell-off focuses on semiconductors. The trigger is Samsung's earnings report in Seoul, which, despite spectacular record figures, falls short of the inflated expectations from buyers, thereby initiating the first serious AI stress test of the year. As a result, Micron, Sandisk, Western Digital, and...