Spain's Interior Ministry said it will extend border controls on passengers arriving from Italy for 15 days.

S&P 500 exited the summer selloff about a month ago and has resumed record highs. By contrast, the Nasdaq-100 remained roughly 4% below its June 2 record as of last week’s close, the last of the major U.S. indices yet to reclaim its peak. The lag reflects about 10 months of market divergence that has reshaped index leadership and return dispersion. Timeline: Nasdaq-100 peaked on Oct. 29 and began to unwind; by mid-December the S&P 500 had returned to fresh highs while Nasdaq-100 failed to regain its record by late January; a spring selloff temporarily synchronized declines and near-term bottoms, with each index completing its rebound within a day of the other; a June chip-stock rout became the watershed, leaving the S&P relatively stable while the Nasdaq-100 remained under pressure. Market discussion of the split may have intensified in June, but the divergence has persisted for roughly ten months.

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.