U.S. Treasury Secretary Bessent said he believes Druckenmiller lost money on the day he published that op-ed.

Financial Times reported large tech firms booked more than $160 billion of unexpected valuation gains last quarter from equity investments in other AI companies, lifting pre-tax profits. Alphabet, Amazon, NVIDIA and Microsoft said the accounting line "other income" was materially boosted by these one-off valuation gains. The gains largely reflect market enthusiasm for AI and could distort assessments of the AI ecosystem’s strength and cyclicality. Goldman Sachs' chief US equity strategist said investors are increasingly asking whether reported growth is demand-driven or, to some extent, misleading.

Beijing time Aug 31 20:00 — White House, administrative duties; Beijing time Sep 1 02:00 — Oval Office, policy meeting; Beijing time Sep 1 03:00 — Oval Office, statement on healthcare affordability; Beijing time Sep 1 04:30 — Oval Office, signing ceremony.