U.S. Bank Stocks Slide as AI Concerns Persist Ahead of Fed Decision

TradingKey - As of July 29, Eastern Time, Intel (INTC) shares have seen a cumulative pullback of over 30% from their late June peak, entering a technical correction zone. Despite the company’s recently released fiscal 2026 second-quarter results beating market expectations across the board and an upward revision to its third-quarter guidance, the stock failed to sustain its previous rally and has instead continued to face pressure.

As of July 28 Eastern Time, SpaceX (SPCX) hit a new intraday all-time low of $107.01, closing at , down nearly from its IPO price and over 50% from its peak. Reportedly, the booster failed to achieve a perfect recovery during the 13th Starship test flight. Meanwhile, as the lock-up expiration approaches, investors have been selling off SpaceX shares, and the stock's search for a bottom continues. However, after a six-week correction, the market capitalization has fallen to $1.43 trillion. As valuation bubbles continue to deflate, this raises the question: will SpaceX see a price recovery?

On July 31, Eastern Time, Micron (MU) fell more than 5% during intraday trading after an 18% surge yesterday. As of press time, the stock was trading at . Michael Burry, the inspiration behind the film "The Big Short," reportedly stated on Substack that he has increased his short position in Micron at a price of approximately $880.

DeepMind released several next-generation embodied AI models, boosting the stock price by nearly 3%, though it may struggle to break through the double resistance level of $360 in the short term.

TradingKey - Situational Awareness, an AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, has recently been hit hard by a significant correction in AI stocks. Under the pressure of leverage, the fund was forced to liquidate a large portion of its public market holdings and is currently seeking new financing support. Once regarded by Silicon Valley as one of the most representative AI investors, Aschenbrenner has now become one of the most high-profile victims of the recent plunge in the AI sector.