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US stocks fell sharply in afternoon trade as investors reassessed the path of interest rates and rotated out of high-valuation technology names. The S&P 500 and Nasdaq Composite each dropped more than 1%, with traders increasingly wary that borrowing costs may stay elevated for longer than previously expected.
Japan’s Nikkei gave up early gains and slipped in late morning trade as weaker Nasdaq futures pressured technology shares ahead of Micron Technology’s quarterly results. Banking stocks helped cushion the market, while the broader Topix managed to edge higher, underscoring a selective rotation rather than a broad risk-off move.
The U.S. Army Combat Capabilities Development Command Armaments Center has introduced SixPAC, a new small-caliber ammunition packaging system designed to combine lightweight polymers with a rugged steel shell. The concept is aimed at improving how soldiers carry, protect and use munitions, signaling a broader push to rethink battlefield logistics and ammunition handling.
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