Daily Brew // Morning Brew // Update

June 24, 2026

Hey there. Guinness World Records named an Australian air conditioner cleaner and honorary town crier as the loudest person in the world. The 58-year-old recorded the loudest ever shout by a human, at 122.4 decibels.

They must have never heard your dad sneeze.

—Dave Lozo, Sam Klebanov, Molly Liebergall, Adam Epstein

In today’s newsletter, we’ll get into:

The global tech selloff
Meta’s new, cheaper smart glasses
How much Fox is making on World Cup hydration breaks

MARKETS

Nasdaq

25,587.04

-2.22%

S&P

7,365.48

-1.44%

Dow

51,665.30

-0.09%

10-Year

4.493%

-2.0 bps

Bitcoin

$62,420.07

-3.01%

SpaceX

$156.11

+0.98%

Data is provided by

*Stock data as of market close, cryptocurrency data as of 4:00pm ET. Here's what these numbers mean.

Markets: Stocks sank again yesterday amid a deepening selloff in tech (more on that soon). News was a bit better for SpaceX, which turned positive for the first time in four sessions as it looks to break out of a slump that followed its initial IPO spike.

CHIP AND FALL

Investors are pulling away from AI on a global scale

Spencer Platt/Getty Images

Investors around the world are dumping tech stocks like they’re toxic cast members on Love Island. Tuesday continued a global sell-off in tech that may be a sign that traders have become skittish about the long-term profitability of AI and chipmakers.

The abandoning of the AI ship began in the US on Monday before spreading to Asia yesterday and resuming in the States after the other side of the world went to sleep:

South Korea-based chipmakers SK Hynix and Samsung fell more than 12% yesterday, resulting in a 10% decline in the Korean Composite Stock Price Index.
Magnificent Seven stocks finished down 1.5% as a group yesterday, with only Microsoft and Amazon showing a gain.
Other US-based AI companies to take a hit included Broadcom (-3%), Micron (-13.2%), AMD (-5.8%), Intel (-6.1%), and Marvell (-9.4%).

What’s causing the sudden loss of confidence?

Much like a couple trying to decide what to have for dinner, no one has a definitive answer—but there are several plausible options.

Google/SpaceX dips: On Monday, both companies took big losses—Google dropped 5%, while SpaceX fell 16%. Some analysts believe that was enough to trigger the sector-wide selloff.

Interest rates: Most forecasters believe that the Fed will raise rates by at least a quarter-point this year. Bank of America predicted on Monday that there will be three hikes, totaling three-quarters of a point, in 2026. Higher rates could result in a deceleration of the heavy investing in AI technology that tech companies have planned in the coming years.

Spending. Investors periodically remember that they’re worried about the hundreds of billions of dollars that tech giants are investing in AI.

What’s next: JPMorgan analysts suggested that the anxiety could be related to Micron dropping its earnings report this afternoon. The chipmaker is expected to provide insight into whether the demand for AI infrastructure will remain high...or if the panic will continue.—DL

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WORLD

Tour de headlines

Josh Edelson/Getty Images

NYT: Zuck wants Meta to develop a prediction markets app. Meta CEO Mark Zuckerberg recently directed a team to create a prediction market app like Kalshi and Polymarket for smartphones, the New York Times reported yesterday. Per the outlet, users would likely not bet real money initially, but could eventually be allowed to place real wagers. Dubbed “Arena” internally, the app would reportedly be separate from Facebook, Instagram, and WhatsApp. The move is yet another attempt by Meta to capitalize on popular emerging technologies, following pivots to AI, the metaverse (RIP), and wearables (see below).

SCOTUS ruling limits corporate liability for human rights abuses. Yesterday, the Supreme Court ruled that members of the Falun Gong spiritual movement could not sue US-based Cisco for allegedly providing the technology that the Chinese government used to persecute them. Falun Gong, a controversial anti-communist movement with millions of practitioners (and the group that operates Shen Yun), had accused Cisco of customizing a surveillance system for the Chinese Communist Party to repress them, which the company denied. The court rejected Falun Gong’s argument that the case should move forward under an 18th-century statute. The ruling will likely make it difficult to sue companies for facilitating human rights abuses abroad.

Trump insists Iran agreed to allow UN to inspect nuclear sites. Despite Iran’s claims to the contrary, President Trump maintained that Tehran will allow UN nuclear inspectors into the country as part of an agreement with the US to end the war. “Iran has fully and completely agreed to highest level Nuclear inspections long into the future (Infinity!!!),” Trump posted on Truth Social yesterday, hours after Iranian officials denied making the concession. The conflicting narratives underscore what experts believe will be the hardest obstacle to overcome in talks: the fate of Iran’s nuclear program.—AE

EYES ON THE PRIZE

Meta designs its own glasses in the race for your face

Meta, Joe Scarnici/Getty Images

As smart glasses slowly graduate from being a niche gadget geeks use, Big Tech companies are vying for the perch atop your nose. And market leader Meta just made a big change: The company unveiled a new set of smart glasses designed in-house without the Ray-Ban branding of its other models.

The new glasses’ $299 starting price is meant to be a cheaper alternative to the Ray-Ban- and Oakley-branded Meta specs that go for $379+. But they’re still produced in partnership with Ray-Ban’s parent company EssilorLuxottica and offer similar functionality, like a built-in camera and an audio-enabled AI assistant.

For now, the glasses come in three versions: Adventurer, Fury, and the slim ovoid Starfire designed by Kylie Jenner. Meta suggested it might later release a cheaper camera-less model with more style options.

Crowded nose bridge

Though Meta currently controls more than two-thirds of the market, its rivals want in:

Snap released high-end glasses called SPECS last week for $2,195 (with questionable aesthetics).
Google will start selling AI smart glasses designed by Warby Parker this fall.
Apple plans to start shipping iPhone-pairing smart glasses next year.

There may be room for everyone: Market research firm IDC reported that smart glasses sales jumped 167% in Q1 of this year from 2025 and Meta said in April its daily smart glasses users had tripled since last year.—SK

READER POLL

Which type of smart glasses are you interested in?

More stylish, but fewer capabilities.
More capabilities, but much bulkier.
Neither—they both sound bad.

Soccer star trivia

Lionel Messi turns 39 today. With 509 million followers on Instagram, he’s the second-most followed person. Who’s No. 1?

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ANSWER

Cristiano Ronaldo, with 667 million. He’s also the only person to have scored a goal in six World Cups, after netting two more yesterday.

Word of the Day

Today’s Word of the Day is: ovoid, meaning “oval or egg-shaped.” Thanks to Louis from Albemarle, NC, for the suggestion. Submit another Word of the Day here.

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