美联储穆萨莱姆：人工智能投资正在影响政府借款成本。

US stocks closed Thursday: Dow Jones up ~0.1%, S&P 500 down 0.47%, Nasdaq down 1.25%. Tech names slumped after reports that OpenAI’s annualized revenue is roughly $20bn below earlier figures. NVIDIA fell nearly 3%; SpaceX, Micron and SK Hynix dropped over 4%; ORACLE and Intel slid more than 5%. The Nasdaq Golden Dragon Index lost 0.62%; NIO fell 3.8%.

China’s Civil Aviation Administration (CAAC) issued Domestic Route Flight Review Optimization Measures to curb excessive carrier concentration and homogeneous competition on some routes. The measures tighten market-entry controls and flight-volume management, adjust scheduling and operating-permit exit rules. Market access will be regulated using carrier count, passenger load factor and passenger throughput to steer orderly route entry and resource allocation. Flight-volume reviews will adopt improved metrics and include support measures for trunk and basic network routes to guide airlines’ capacity deployment. Operating-permit rules clarify continuous-compliance requirements, flight-execution rate calculation, incentives for voluntary permit return or cancellation, and operational-efficiency supervision to strengthen permit management and exit mechanisms.