Global markets experienced a tech sell-off, with the Nasdaq index closing 2.2% lower and the S&P 500 down 1.43%. Despite this, all three major US indices have reached record highs this year due to increased funding for AI technology and infrastructure.

Apple plans to raise device prices due to increased costs of RAM and SSDs. Price hikes are expected to occur soon, potentially coinciding with the back-to-school sale.

The U.S. office market is experiencing significant price reductions, with some buildings marked down by over 90%. In Chicago, a developer purchased a 485,000-square-foot office building for $4 million, down from its previous sale price of $68.1 million a decade ago.

AI can produce multiple products or services rapidly, significantly increasing the volume of new offerings in the market. As a result, the value of human creativity and attention is diminishing, leading to a shift in how products are perceived and valued.

Western Digital has sold out its hard drive storage capacity for 2026, with over 10 months remaining in the year. CEO Irving Tan announced that the company is effectively sold out for the calendar year.

Apple's App Store saw 557,000 new app submissions in 2025, a 24% increase from 2024. The reduction in app development costs, from around $50,000 to a weekend project using AI tools like Claude, is driving this surge in submissions.

Bitcoin fell below $61,000, marking a decline that has erased all gains since Donald Trump's election. The cryptocurrency dropped as much as 4.8% to $60,033, reaching its lowest value since October 2024 amid increased market turbulence and unwinding of leveraged bets.