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The Nasdaq endured a historic collapse on Friday, shedding an unprecedented $1.71 trillion in market value in what analysts say was the largest one-day dollar loss ever recorded by the technology-heavy exchange.

The dramatic sell-off was fueled by a combination of factors, including unexpectedly strong economic reports, growing concerns over interest rates, weakness across artificial intelligence-related stocks, and escalating geopolitical tensions.

By the closing bell, the Nasdaq Composite had tumbled 4.18%, its steepest daily decline since April 2025.

Although the percentage drop was less severe than some of the market routs witnessed during the height of the COVID-19 panic in 2020, the sheer size of the losses eclipsed all previous records because of the enormous valuations now attached to major technology companies.

During the pandemic-era market turmoil, investors also endured staggering losses. On March 9, 2020, the Nasdaq slid 7.3%, eliminating approximately $825 billion in market value. Three days later, the index plunged 9.4%, wiping out roughly $1 trillion. On March 16, 2020, the Nasdaq cratered 12.3%, destroying an estimated $1.1 trillion to $1.3 trillion in value.

The only comparable declines in percentage terms remain the crashes of 2020 and the aftermath of the 1987 market crash, when the Nasdaq plunged 11.4% and the Dow Jones Industrial Average suffered its infamous 22.6% collapse.

Even so, Friday’s sell-off appears to have set a new record for the largest single-day destruction of shareholder value in Nasdaq history.

Market observers pointed to several catalysts behind the sharp decline.

One major factor was stronger-than-anticipated employment data, which caused investors to rethink expectations that the Federal Reserve might soon begin cutting interest rates.

Higher borrowing costs tend to have the greatest impact on fast-growing technology firms because much of their valuation is tied to earnings expected years into the future.

At the same time, investors became increasingly uneasy about the enormous sums being poured into artificial intelligence projects and semiconductor infrastructure.

Several AI-focused companies and chip manufacturers came under heavy selling pressure after disappointing industry forecasts raised doubts about whether current spending levels can ultimately generate sufficient returns.

Traders also expressed concern about future capital demands tied to large-scale technology and aerospace projects, including anticipated fundraising activity connected to SpaceX-related ventures. Some market participants fear such fundraising efforts could draw investment dollars away from publicly traded stocks.

Geopolitical concerns added further pressure. Ongoing tensions involving Iran remained a major focus for investors, while the continued closure of the Strait of Hormuz fueled worries about energy markets, international trade, and renewed inflationary pressures.

Those uncertainties have complicated the outlook for policymakers and increased concerns that stock prices may have become stretched after months of gains.

Volatility surged throughout the day as investors rushed to reduce exposure across a wide range of assets. The selling was not limited to equities, with cryptocurrencies, bonds, and even traditional safe-haven investments also coming under pressure.

Bitcoin, gold, and fixed-income securities all experienced notable declines as traders sought to raise cash and reduce risk.

Market commentator and fund manager Mitch Feierstein argued that investors should remain cautious despite signs of economic strength.

“The Trump administration has drastically improved the economy. However, the Biden dumpster fire, combined with too-late Jerome Powell’s misguided policies at the Federal Reserve, created the highest inflation in 40 years, gasoline prices 30% higher than during the Iran conflict, and grotesque bubbles in every asset class,” Feierstein said.

Feierstein also cited a range of additional risks, including rising oil prices, growing debt burdens, lingering supply-chain disruptions, concerns in private credit markets, and slowing economic activity in parts of Europe and Asia.

“While it’s impossible to call the top of a bubble, trading in many of these AI issues has become a form of casino capitalism,” Feierstein added.

Other analysts noted that technology stocks had risen so dramatically in recent months that even minor disappointments were capable of triggering a sharp reversal.

After a prolonged rally driven by enthusiasm over artificial intelligence, investors appeared quick to lock in profits at the first signs of weaker guidance or questions about future growth.

Whether Friday’s plunge proves to be a short-term correction or the beginning of a broader market reset remains unclear.

What is evident, however, is that the massive valuations created during the AI boom have magnified the consequences of even relatively modest declines, turning a 4.18% drop into the largest one-day dollar loss ever suffered by the Nasdaq.

Newly released military footage is shedding light on a remarkable incident that occurred in the aftermath of the Chinese spy balloon controversy, when a U.S. fighter jet reportedly destroyed what was later identified as a Boy Scout research balloon using a missile worth roughly half a million dollars.

According to a report by the New York Post, the U.S. Air Force dispatched an F-16 over Lake Huron on February 12, 2023, to intercept what officials initially believed could be an unidentified aerial threat. The object was destroyed by what was likely an AIM-9 Sidewinder missile.

The footage, released last month by the Department of Defense as part of a new batch of declassified UFO-related records, shows a dark orb-like object with a string attached appearing briefly in the fighter pilot’s targeting system before being blown apart.

“The F16 shot at a balloon over Lake Huron. After the [Chinese spy] balloon embarrassment, DOD was shooting at every [Unidentified Anomalous Phenomena] they detected,” Tim Phillips, a former interim director of AARO, told The Post.

The object was later identified as belonging to a Boy Scout group, according to Sean Kirkpatrick, the former head of the Pentagon’s All-Domain Anomaly Resolution Office (AARO).

“[The balloon] had circumnavigated the globe eight times before we shot it down with a half-million-dollar missile,” Kirkpatrick said at a conference on April 27.

“You can imagine the response on the Hill when I briefed that,” he said at that conference.

Kirkpatrick added that the balloon had been part of an ongoing research initiative, though he did not provide further details about the project.

The incident occurred just days after the Chinese spy balloon crossed the United States, a controversy that generated intense criticism of the Biden administration’s handling of the situation and led to heightened sensitivity regarding unidentified objects in American airspace.

The Lake Huron incident was not the only costly interception during that period. On February 11, 2023, a U.S. F-22 reportedly fired a missile costing approximately $439,000 to destroy a hobbyist research balloon over Alaska.

According to The Guardian, that balloon belonged to the Northern Illinois Bottlecap Balloon Brigade and reportedly cost just $12 to build.

Kirkpatrick also recounted another episode involving a military pilot who reported encountering an object with what appeared to be advanced stealth characteristics. After receiving authorization to engage, the pilot ultimately destroyed what turned out to be a star-shaped Mylar party balloon purchased at Walmart bearing the message “Happy Birthday.”

Many of the military videos depicting unidentified aerial phenomena, some of which have been released by the Trump administration, have ultimately been traced to ordinary man-made objects that were initially misidentified by drone operators and military personnel.

“They’ve been on mission and they’ve got to get back to base to rearm and refuel. And you’ve got a bored operator looking around. And they pick something up and aren’t sure what it is,” Phillips said.

Phillips argued that the reporting system has improved significantly in recent years and that military personnel are increasingly willing to document unusual sightings for further analysis.

“We’re actually seeing, good reporting coming out of the fleet, coming out of the operation wings and squadrons, where they’re willing to report this stuff. And this is part of that outreach where we get our scientists to talk to the Reaper operators and actually go side by side and try to do some education,” he said.

{Matzav.com}

Jewish communities in Canada were shaken over the weekend after two separate attacks targeted shuls in Toronto and Montreal within less than 24 hours, prompting strong condemnation from officials and renewed concerns about rising antisemitism across the country.

During the early hours of Shabbos, a window at Congregation Mishkan Avraham in Toronto’s North York neighborhood was shattered after an unidentified object was thrown at the building. The synagogue is located near the intersection of Bathurst Street and Glencairn Avenue.

No injuries were reported, but authorities have launched an investigation into the incident. According to Canadian media reports, Toronto Police’s Hate Crime Unit is leading the probe and has appealed to the public for information.

Israel’s Consulate General in Toronto condemned what it described as an antisemitic attack on the synagogue, calling the incident part of a troubling pattern of anti-Jewish hostility seen across Canada in recent days.

The Toronto attack came shortly after another serious incident in Montreal. On Friday, assailants allegedly hurled Molotov cocktails at a shul in an apparent attempt to set the building on fire.

“Within less than 24 hours, two Jewish houses of worship were attacked in two major Canadian cities,” the Israeli consulate said in a statement.

The incidents occurred amid growing concern over antisemitism in Canada. Earlier this week, Canadian Prime Minister Mark Carney warned about a significant increase in incitement and attacks directed at the country’s Jewish community.

In its statement, the Israeli consulate noted that “the Jewish community has heard countless condemnations over the past two and a half years, yet Jewish institutions continue to be targeted.”

The consulate also praised Toronto police for their swift response while urging authorities to take stronger action against antisemitic violence.

“A synagogue must never become a crime scene, and Jews in Canada should not have to live with the feeling that the only question is which Jewish institution will be targeted next,” the statement said. “Authorities must make clear through actions, not only statements, that antisemitic violence has no place in Canada.”

{Matzav.com}

New details emerging from the investigation into last week’s violent demonstration outside the home of Deputy Supreme Court President Justice Noam Sohlberg suggest that some participants allegedly intended to physically harm the judge, according to a report by Channel 12 News.

Senior officials involved in the investigation reportedly expressed surprise at both the level of planning and the brazenness of the operation. According to the report, police investigators have described the incident as displaying a “clear intention to carry out a pogrom.”

Investigators believe the disturbance was not a spontaneous protest that spiraled out of control but rather a carefully orchestrated operation that was carried out under the guise of a demonstration.

According to sources familiar with the investigation, many of those involved differed from the typical participants seen at public protests. Some reportedly arrived equipped with GoPro cameras, while others allegedly used false identities in an effort to avoid arrest and hinder law enforcement efforts.

A police source told Channel 12 that several of the suspects are believed to be military draft evaders and are not individuals usually associated with such demonstrations.

“These are people who came to carry out a pogrom and leave,” a source familiar with the investigation told the network.

Police officials reportedly believe they have identified the individual who organized and directed the event and expect to take further action as the investigation progresses.

According to the information gathered so far, the alleged organizer knew precisely that the target location was Justice Sohlberg’s residence, while some of those who took part in the protest were apparently told only that they were demonstrating outside the home of a senior public figure.

Investigators currently believe that the rapid arrival of a large police tactical force prevented the situation from escalating further. According to police assessments, had officers not intervened quickly and dispersed the crowd, some of the suspects may have carried out their alleged plan to physically attack Justice Sohlberg.

The investigation remains ongoing, and authorities are continuing efforts to identify additional participants and determine who was responsible for organizing the demonstration.

{Matzav.com}

Opposition leader Gadi Eisenkot publicly rebuked Yair Lapid today, rejecting speculation that he is preparing to join a political alliance with Lapid and Naftali Bennett and revealing a significant breakdown in communication between the two camps.

In an interview with Channel 12 News, Eisenkot dismissed Lapid’s recent prediction that he would soon become part of a united opposition bloc, suggesting the comment stemmed more from political pressure than from any real discussions.

“That was a strange statement. I assume it came out of pressure,” Eisenkot said. He noted that he and Lapid have barely spoken in recent months, with only a brief phone conversation taking place during that period.

Eisenkot acknowledged that the two had worked together in the past but said those efforts ultimately failed. Looking ahead, he said his focus is on defeating Prime Minister Benjamin Netanyahu alongside a broad coalition of opposition figures, including Lapid, Bennett, Avigdor Lieberman, Yair Golan, and others.

The former IDF chief of staff also disclosed that relations between the parties have deteriorated sharply. According to Eisenkot, regular communication ended roughly three months ago following decisions made by Lapid’s camp.

He said he had spent months advocating for a meeting of opposition party leaders to coordinate strategy, establish a common platform, and potentially present what he described as a “shadow cabinet” to the public. However, he claimed other opposition leaders were unwilling to participate.

Eisenkot also poured cold water on growing talk of opposition mergers and joint electoral lists, arguing that such decisions are premature given the uncertainty surrounding the political landscape.

He said party leaders must first determine what new political movements may emerge and when elections will actually take place, adding that the situation should be reassessed regularly with one central question in mind: what is most likely to produce victory.

At the same time, Eisenkot raised eyebrows by refusing to rule out the possibility of sitting with Netanyahu under certain circumstances. When asked whether he would consider joining a Netanyahu-led government rather than sending Israel to another round of elections, he declined to give a direct answer.

Instead, Eisenkot turned his attention to criticizing the prime minister and expressed confidence that Netanyahu’s time in office is nearing its end.

“I’m focused 24 hours a day, six days a week — on Shabbat I rest — in order to defeat Netanyahu,” Eisenkot said. He added that he is convinced Netanyahu will lose the next election and argued that it would be unreasonable for him to remain prime minister after the October 7 attacks and more than two years of war.

The comments underscore growing tensions within Israel’s opposition camp, where leaders remain united in their desire to replace Netanyahu but increasingly divided over how to achieve that goal.

{Matzav.com}

A new public opinion survey indicates that a clear majority of Israelis would prefer to see a new prime minister after the next election, while confidence in the government’s handling of the conflict with Hezbollah remains low and President Donald Trump is widely viewed as the dominant influence on Israel’s security policy.

According to a poll published by Channel 12 News, 58% of respondents said they want someone other than Prime Minister Bibi Netanyahu to lead the country following the next election. Only 32% said they would like Netanyahu to remain in office for another term.

The survey also revealed striking perceptions regarding Israel’s security decision-making. Fully 67% of respondents said they believe President Donald Trump is the person who effectively determines Israel’s security policy, while only 22% said Netanyahu is the primary decision-maker.

Even among voters who intend to support parties in the governing coalition, Trump was viewed as the more influential figure. Among that group, 47% said Trump sets Israel’s security policy, compared to 43% who credited Netanyahu.

Participants were also asked whether recent events had increased their concerns about the future of Israeli democracy. The question followed reports alleging that Likud lawmakers were pressured to photograph themselves while voting in the State Comptroller election, as well as protests and disturbances outside the home of Deputy Supreme Court President Justice Noam Sohlberg.

A majority of respondents expressed concern, with 53% saying they are worried about the future of democracy in Israel. By contrast, 38% said they are not concerned.

When asked to evaluate the leadership’s performance in the war against Hezbollah, respondents delivered largely negative ratings to senior political officials.

Netanyahu received a negative overall assessment from 56% of those surveyed, while 39% said his performance had been generally positive.

Defense Minister Israel Katz fared even worse. Sixty percent rated his performance negatively, while just 31% gave him a favorable assessment.

In contrast, IDF Chief of Staff Lt. Gen. Eyal Zamir received significantly stronger marks from the public. Fifty-nine percent said he has performed well during the conflict with Hezbollah, while 28% rated his performance negatively.

The survey also examined which national leader Israelis view as the most trustworthy. Former IDF Chief of Staff and National Unity Party leader Gadi Eisenkot led the field with 38%, followed by Netanyahu at 27%. Former Prime Minister Naftali Bennett trailed with 12%.

Eisenkot also topped the list when respondents were asked who would best represent and care for the interests of his voters. He received 28%, followed by Netanyahu at 25% and Bennett at 16%.

On the question of who would best safeguard Israel’s security, Eisenkot again finished first with 36%, narrowly ahead of Netanyahu, who received 33%. Bennett remained far behind at 12%.

Economic issues produced a different result. Asked who would be most effective in addressing the economy and the rising cost of living, respondents placed Bennett first at 28%, followed by Netanyahu at 26% and Eisenkot at 16%.

The survey also found that Netanyahu received the weakest rating on the issue of healing divisions within Israeli society. Eisenkot led that category with 27%, Bennett followed with 21%, and Netanyahu came in at 20%.

{Matzav.com}