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US stocks sink again as more companies detail damage they're taking because of Trump's trade war

U.S. stocks are sinking Tuesday as AI mania on Wall Street loses more steam and as more companies scrub their forecasts for upcoming profits because of uncertainty created by President Donald Trump’s tariffs. Palantir Technologies was one of the heaviest weights on the market after falling 11.7%. AI-related companies have been finding it more difficult recently to convince investors to support their stocks after they’ve already shot so high.

Safe-haven demand lifts gold to 2-week peak, focus on Fed meet

Gold prices rose to a two-week high on Tuesday, as tariff threats from U.S. President Donald Trump lifted demand for the safe-haven metal, while the Federal Reserve's policy decision this week was also in focus. Spot gold rose 1.2% to $3,374.78 an ounce, as of 1219 GMT, after hitting its highest since April 22 earlier in the session. "The structural factors that supported gold in recent weeks are all still around - trade tensions are not fixed, concern about the dollar as a reserve currency," said UBS analyst Giovanni Staunovo.