Markets are crashing worldwide as doubts about AI spending collide with a bank collapse in Paraguay, and it's bad news for anyone holding tech stocks or crypto.

• Tech stocks got hammered, with Nvidia and Qualcomm each dropping over 9% and wiping out trillions in value, as investors suddenly question whether all the AI spending will ever pay off.
• The Nasdaq had its worst day since the pandemic, the Dow dropped over a thousand points, and bond yields fell as money fled to safety.
• In Paraguay, a Trump-allied president resigned after a major digital bank collapsed, freezing the accounts of millions of people (about 60% of the country's adults) and sparking street protests.
• The Paraguay bank failure is a warning sign for the push toward crypto and digital banking championed by figures like Elon Musk and the Trump family, since it shows how fast people's money can get locked up when these systems fail.
• Even as tech wobbles, companies like Apple are borrowing billions more, and data center construction (tied to Musk's SpaceX and Tesla projects) is still being protected by friendly state governments.

Outlook: Expect more volatility as markets reassess AI company debt and spending, while Paraguay's banking crisis tests how much trust people put in digital finance tied to Trump and Musk allies.