The hour was defined by a spreading rout in semiconductor and AI-exposed equities, fueled by intensifying competition fears following the massive IPO of China's CXMT, which reportedly now carries a higher valuation than Intel. This sentiment sparked a broader tech sell-off, contributing to a sharp 11% crash in South Korea’s KOSPI index and triggering circuit breakers. As investors brace for Federal Reserve policy updates, market anxiety remains elevated. Amidst the volatility, major corporate developments provided a mix of idiosyncratic signals: Johnson & Johnson reached a $5.5 billion settlement to end long-standing talc litigation, while Boeing faced continued pressure from production costs and quality control issues. Conversely, consumer staples like Coca-Cola and GSK offered relative stability, posting strong earnings and outlooks that stood in contrast to the prevailing tech-sector bearishness.