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Global chipmakers rebound after Nvidia shares rally

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Global chipmakers rebound after Nvidia shares rally

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Chipmakers in Asia and Europe rebounded on Wednesday after strong corporate earnings from Dutch group ASML added to the previous day’s rally in industry leader Nvidia.

The recovery came after US chipmaker Nvidia closed up nearly 9 per cent on Tuesday, recouping some of the heavy losses that wiped close to $600bn off its market capitalisation at the start of the week, when investors fretted over the threat from China’s DeepSeek to the US supremacy in artificial intelligence.

The emergence of DeepSeek, which promises to develop AI tools at a fraction of the cost of US rivals, has been called a contemporary “Sputnik moment”.

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The Stoxx Europe 600 benchmark was up 0.5 per cent, led by ASML. The chip equipment maker announced earnings that beat analysts’ expectations, sending its shares 10 per cent higher in Amsterdam.

ASM, another chip stock, rose 7 per cent, while the Stoxx Europe 600 Technology index was up 4.3 per cent, more than erasing Monday’s rout.

“What happened on Monday was an extreme overreaction that was amplified by extreme positioning,” said Elyas Galou, global investment strategist at Bank of America, pointing to crowded positions in global tech stocks heading into US President Donald Trump’s inauguration and ahead of this week’s earnings from tech bellwethers including Meta and Microsoft.

“We saw a lot of buying yesterday, including from retail investors, which is supporting the market today,” he added.

Nvidia shares were flat in pre-market trading on Wednesday. Futures markets pointed to a further rebound in the US, with contracts tracking the Nasdaq up 0.3 per cent and those tracking the S&P 500 flat.

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Japan’s tech-heavy Nikkei 225 closed up 1 per cent after a rebound in semiconductor stocks and AI investor SoftBank.

“Markets have taken a calmer look at developments in China with AI and perhaps it is a reflection that Monday’s moves were an overreaction,” said Mitul Kotecha, head of emerging markets macro and foreign exchange strategy at Barclays.

Asian market analysts at Goldman Sachs wrote in a note on Tuesday night that “oversold high-quality stocks could also provide some investment opportunities”, adding “we think strong companies will get even stronger”.

In Tokyo, Nvidia supplier Advantest closed up 4.4 per cent while semiconductor company Tokyo Electron was up 2.3 per cent. SoftBank ended the day with a 2.4 per cent rise.

Markets in the rest of Asia were also buoyant on Wednesday. India’s Nifty 50 was up almost 1 per cent in afternoon trading while Australia’s ASX 200 closed up 0.6 per cent. China, South Korea and Taiwan are closed for lunar new year holidays.

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However, analysts warned that the recovery had not yet fully undone the panicked falls on Monday as investors digested the implications of the heavy AI investment by US tech in light of DeepSeek’s achievements.

“There’s not been a rebound like ‘oh, it was nothing’. It is just a reflection that Monday’s move was a tad overdone,” said Barclays’ Kotecha.

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Explosion at Lumber Mill in Searsmont, Maine, Draws Large Emergency Response

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Explosion at Lumber Mill in Searsmont, Maine, Draws Large Emergency Response

An explosion and fire drew a large emergency response on Friday to a lumber mill in the Midcoast region of Maine, officials said.

The State Police and fire marshal’s investigators responded to Robbins Lumber in Searsmont, about 72 miles northeast of Portland, said Shannon Moss, a spokeswoman for the Maine Department of Public Safety.

Mike Larrivee, the director of the Waldo County Regional Communications Center, said the number of victims was unknown, cautioning that “the information we’re getting from the scene is very vague.”

“We’ve sent every resource in the county to that area, plus surrounding counties,” he said.

Footage from the scene shared by WABI-TV showed flames burning through the roof of a large structure as heavy, dark smoke billowed skyward.

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The Associated Press reported that at least five people were injured, and that county officials were considering the incident a “mass casualty event.”

Catherine Robbins-Halsted, an owner and vice president at Robbins Lumber, told reporters at the scene that all of the company’s employees had been accounted for.

Gov. Janet T. Mills of Maine said on social media that she had been briefed on the situation and urged people to avoid the area.

“I ask Maine people to join me in keeping all those affected in their thoughts,” she said.

Representative Jared Golden, Democrat of Maine, said on social media that he was aware of the fire and explosion.

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“As my team and I seek out more information, I am praying for the safety and well-being of first responders and everyone else on-site,” he said.

This is a developing story. Check back for updates.

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Woman killed in Atlanta Beltline stabbing identified

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Woman killed in Atlanta Beltline stabbing identified

Crime scene tape surrounds a bicycle in front of St. Lukes Episcopal Church in Atlanta on May 14, 2026. (SKYFOX 5)

The woman stabbed to death on the Beltline has been identified as 23-year-old Alyssa Paige, according to the Fulton County Medical Examiner.

The backstory:

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Paige was killed by a 21-year-old man Thursday afternoon while she was on the Beltline. Officials confirmed to FOX 5 that the stabbing happened near the 1700 block of Flagler Avenue NE.

Atlanta Police Chief Darin Schierbaum said the department was alerted around 12:10 p.m. that a woman had been stabbed just north of the Montgomery Ferry Drive overpass. She was rushed to Grady Memorial Hospital where she later died. Another person was also stabbed during the incident, but their condition remains unknown.

According to officers, the man responsible attacked a U.S. Postal worker prior to the stabbing before getting away on a bike. He then used that bike to flee the scene of the stabbing as well.

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The suspect was arrested near St. Luke’s Episcopal Church on Peachtree Street in Midtown around 5:25 p.m. 

What we don’t know:

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While officials haven’t released an official motive, they noted the man may have been suffering a mental health crisis.

The Source: Information in this article came from the Fulton County Medical Examiner’s Office and previous FOX 5 reporting. 

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Man Charged With Posting Bomb Instructions Used in New Orleans Attack

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Man Charged With Posting Bomb Instructions Used in New Orleans Attack

Federal prosecutors have filed charges against a former Army serviceman they accused of distributing instructions on how to build explosives that were used by a man who conducted a deadly attack in New Orleans on New Year’s Day last year.

The former serviceman, Jordan A. Derrick, a 40-year-old from Missouri, was charged with one count of engaging in the business of manufacturing explosive materials without a license; one count of unlawful possession of an unregistered destructive device; and one count of distributing information relating to manufacturing explosives, according to a criminal complaint unsealed on Wednesday. The three charges together carry a maximum sentence of 40 years in federal prison.

Starting in September 2023, the authorities said, Mr. Derrick was using various social media sites to share videos of himself making explosive materials, including detonators. His videos provided step-by-step instructions, and he often engaged with viewers in comments, sometimes answering their questions about the chemistry behind the explosives.

The authorities said that Mr. Derrick’s videos were downloaded by Shamsud-Din Bahar Jabbar, 42, who was accused of ramming a pickup truck into a crowd on Bourbon Street in New Orleans on Jan. 1, 2025, in a terrorist attack that killed 14 people and injured dozens. Mr. Jabbar was killed in a shootout with the police. Before the attack, Mr. Jabbar had placed two explosives on Bourbon Street, the authorities said, but they did not detonate.

The authorities later recovered two laptops and a USB drive in a house that Mr. Jabbar had rented. The USB drive contained several videos created by Mr. Derrick that provided instructions on making explosives. The authorities said the explosives they recovered were consistent with the ones Mr. Derrick had posted about.

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Mr. Derrick’s lawyers did not respond to requests for comment.

Mr. Derrick was a combat engineer in the Army, where he provided personnel and vehicle support, the authorities said. He also helped supervise safety personnel during demolitions and various operations. He was honorably discharged in February 2013.

The authorities did not say whether Mr. Derrick had any communication with Mr. Jabbar, or whether the men had known each other. In some of Mr. Derrick’s videos and comments, he indicated that he was aware that his videos could be misused.

“There are a plethora of uh, moral, you know, entanglements with topics, any topic of teaching explosives, right?” he asked in one video, according to the affidavit. “Of course, the wrong people could get it.”

The authorities also said that an explosion occurred at a private residence in Odessa, Mo., on May 4, and the occupant of the residence told investigators that he had manufactured explosives after watching online tutorials from Mr. Derrick.

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Mr. Derrick’s YouTube account had more than 15,000 subscribers and 20 published videos, the affidavit said. He had also posted content on other platforms, including Odysee and Patreon. Some videos were accessible to the public for free, while others required a paid subscription to view.

“My responsibility to my countrymen is to make sure that I serve the function of the Second Amendment to strengthen it,” Mr. Derrick said in one of his videos, according to the affidavit. “This is how I serve my country for real.”

Outside of the income he received through content creation, Mr. Derrick did not have any known employment. He did receive a monthly disability check from Veterans Affairs, the affidavit stated.

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