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A great start, a rough finish. The market had its best bank-earnings week ever and a cool inflation report — then the AI trade got rattled. On Friday, a Chinese startup released a powerful new AI model at a fraction of U.S. prices, reviving fears that American companies are overspending on chips. The chip sector fell into a bear market, down 20% from its June peak. But this was a narrow AI-and-chips repricing, not a broad panic — the Dow held up far better than the Nasdaq. Full recap on the Bell
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