HONG KONG, June 5 — Asian stocks sank yesterday after a disappointing forecast by chip giant Broadcom stoked concerns about the AI trade, while stronger-than-expected US data compounded speculation the Federal Reserve could hike interest rates.

Fresh Iranian attacks and a lack of progress in talks to end the war and reopen the Strait of Hormuz added to the downbeat mood, though oil prices dived on news of a ceasefire between Israel and Lebanon.

Regional equity markets tracked a retreat on Wall Street, where tech firms — the drivers of a global surge to record highs in recent years — took a hit after Broadcom’s estimated chip revenue for the third quarter came in below expectations.

The outlook revived concerns that the eye-watering sums that companies have invested in the AI sector may have been overdone and that valuations are overblown.

Investment giant Ray Dalio warned on Wednesday that the boom — which has seen Nvidia’s capitalisation top US$5 trillion (RM20 trillion) — could turn into a bubble that will pop.

“All great technology changes produce bubbles,” he said in an interview with Bloomberg Television.

“Nobody can get it exactly right. You have to either spend a ton of money to capture your market share and don’t worry about whether it’s too much or not, or you don’t spend enough money and you lose your market share.”

After Wall Street’s retreat — also fuelled by profit-taking — stock markets in Asia fell, with tech-rich Tokyo and Seoul — which have led gains this year — among the hardest hit.

There were also losses in Hong Kong, Shanghai, Sydney, Singapore, Mumbai, Wellington and Taipei.

Jakarta tumbled more than three per cent to its lowest level since 2021 as the Indonesian rupiah topped 18,000 to the dollar for the first time on worries about the country’s economy.

However, London, Frankfurt and Paris rose.

Meanwhile, US data showed US companies last month added the most jobs since the start of last year, despite rising energy prices. That came before the release of a closely watched non-farm payrolls report at the end of the week.

Speculation is rising that a strong reading today — which would compound the war-fuelled spike in inflation — could put more pressure on the Fed to hike rates.

“For traders... strong growth is no longer the uncomplicated gift it once was,” wrote Stephen Innes at SPI Asset Management.

“The market spent much of the past year trading as though rate cuts were perpetually just around the corner.

“Instead, the combination of resilient employment, firm activity data, and elevated energy prices is increasingly forcing investors to contemplate the opposite outcome.

“After months of head-scratching, traders finally appear to be accepting that a hawkish Federal Reserve, combined with an increasingly hawkish global central-bank backdrop, looks far more like a tightening cycle than a cutting cycle.”

The Middle East crisis continued to weigh, with Iran’s foreign minister saying “no tangible progress” had been made in negotiations with the US to end the war.

Meanwhile, Iran targeted the US’s main naval base in the region, located in Bahrain, and the Ali Al-Salem airbase in Kuwait, adding to worries about their fragile truce.

At least one person was killed in a separate strike on Kuwait’s civilian airport that caused significant damage and forced a suspension of flights for a few hours.

However, President Donald Trump struck an upbeat tone, telling reporters at the White House: “I hear the negotiation itself is going very well actually.

“It could happen... over the weekend.”

Still, Israel and Lebanon agreed Wednesday to implement a ceasefire “contingent on a complete cessation” of fire by Iran-backed militant group Hezbollah as well as evacuation of its operatives from southern Lebanon.

The announcement followed US-led talks in Washington and the two sides will meet for more talks later this month, “with a view toward reaching a comprehensive agreement”.

Both main crude contracts, which have jumped back towards US$100 this week, sank around one per cent. — Reuters

 

Spaniards are currently getting a close look at a pope the world still knows little about. He has gone from being a mystery, a man who seemed feeble, to becoming, in the space of two months, a startling revelation after he clashed with Donald Trump in mid-April and, two weeks ago, published a far-reaching encyclical; an argument against the techno-fascism of Silicon Valley. His visit to Spain will culminate in the definitive discovery of Prevost, since it is his first major trip to Europe and he will speak to the entire Western world. But what does this pope think and why has he been so disconcerting?

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When Sarah Pidgeon auditioned to play Carolyn Bessette Kennedy in Ryan Murphy’s latest installment of Love Story, she wasn’t yet fully steeped in the lore of the late style icon, she admits. “I had a sort of baseline knowledge of her,” Pidgeon tells W’s Editor at Large, Lynn Hirschberg. “I knew that she worked at Calvin Klein. I knew that she was married to JFK Jr. I knew the photos of her.”

Now 29, Pidgeon was just a toddler when Bessette Kennedy and John F. Kennedy Jr.’s every move was dominating the tabloids, before their tragic deaths in a plane crash in 1999. But the Michigan-born actor, who made waves in the Tony Award–winning Broadway play Stereophonic, quickly learned what it means to portray a woman whose image still inspires obsession. Even before the series premiered, Pidgeon and her costar, Paul Anthony Kelly, found themselves the subject of intense scrutiny. “I’ve never been a part of something that people have taken so personally,” she says. “It’s always nice to be a part of a conversation. Well, I mean, I guess it depends on the conversation.” For our TV portfolio, Pidgeon discusses her theater-kid first kiss, the power of a wig, and the one movie that always makes her cry.

Have you always wanted to act?

I tried soccer. I also tried water polo, but I felt like I was drowning the entire time. I was so bad at sports. Acting was really the thing where I felt like myself. And if this doesn’t work out, I’m totally screwed.

You can sing. You were onstage singing in Stereophonic, which won the Tony Award for best play.

That was such a surreal moment. Thank God I was at the awards ceremony with my mom. I was saying, “Mom, do you see who that is?” And my mom would say, “Who is that?” That was quite grounding for me. And yes, I sang at the Tonys. I was so stressed about singing every night in Stereophonic. There was a specific note that I had to hit that was at the top of my range, and in the show I’m smoking herbal cigarettes, snorting fake cocaine, screaming, crying, and then singing.

Do you get starstruck?

Yeah. I get very nervous. I don't pretend. I am gregarious and I can reveal a lot of personal anecdotes about myself, but I think that is an effort to cover up a sense of shyness. There are some people who I would love to shake hands with.

Like who?

I get a little superstitious to talk about that. It’s like meeting a crush and they know that you have a crush on them. Sometimes that's amazing, but other times that's so mortifying.

Who did you have a crush on growing up?

I liked those Lord of the Rings guys—Orlando Bloom, Viggo Mortensen. I mean, the wigs…I know the power of a wig. Let's just say that much.

Which movie makes you cry?

I love About Time. There's the story between the father and his son, and then, of course, the love story. It's so heartbreaking. Trying to redo a first date over and over until you get it perfectly right because you want them to love you so much. And then at the end, the message of living every day as if it's your last, which I don't think I necessarily do. But whenever I watch that movie, the next day is amazing because you take in, like, every single detail.

Do you have a go-to karaoke song?

I like a little “Life on Mars?” It's a good belty song, but it's right in the range.

Where was your first kiss?

My first kiss was in a rehearsal room. I just turned 13. I was in Cinderella, and the prince kissed me. I did it in front of our director. They were very thoughtful about having it be private between Prince Charming and me, so we didn't have to do it in front of, like, 30 other seventh- and eighth-graders. He's still one of my dear friends. We ended up going to college together. I wrote my college essay—my Common App—essay about it. [The prompt was to] name a challenging time, and I talked about having my first kiss. But after that, it was game over for the rest of the boys. I was ready to mack.

What's your pet peeve?

When people don't bag their groceries at the grocery store. Obviously, there are baggers, but if there's no one there and there's a line behind you, you might as well do it. Trader Joe’s is very fast, especially in the city. They have a system that you don’t really want to mess with. But, I don't know, I like my bags packed in a particular way. I want to make sure that the produce doesn't get bruised.

What sign are you?

I’m a Cancer. The crab. Cancers like their home. I turn 30 this year, and I finally got a big-girl apartment in Brooklyn. It's been really nice, but I still send my mail to my mom's house. She's more responsible than I am.

Hair by Mustafa Yanaz for L’Oréal Professionnel; Paris at Art + Commerce; Makeup by Sam Visser for YSL Beauty at Art Partner; Manicure by Eri Handa for Dior Le Baume at Home Agency; Set design by Mila Taylor-Young. Produced by Prodn; Production Team: Mitch Baker, Noah Conboy, Steven Dam, Torrance Hall, Parker Hanley, Taryn Kelly, Conor McIntyre, Wesley Torrance, Daniel Weiner, Jasmine Williams; Photo Assistants: Keegan Gay, Jeremy Gould, Carlos Vigil; Digital Technician: Kylie Coutts; Fashion Assistants: Lizzie Bowden, Tori López, Kayla Perno, Sofia Prochilo, Celeste Roh, Tyler VanVranken; Tailor: Lindsay Wright; Hair Assistants: Tiana Amani, Harley Beman, Kazuto Shimomura; Makeup Assistants: Elika Hilata, Juan Jaar, Meghan Nguyen, Yuui Vision; Set Assistant: Kate Atkinson.

After nearly five decades in Hollywood, Jason Bateman continues to surprise audiences. He began as a child actor, found a new generation of fans with Arrested Development, and later revealed a darker register as both star and director of Ozark (for which he won an Emmy) and the recent Netflix thriller Black Rabbit. His latest, DTF St. Louis, places him in the middle of a suburban tangle of sex and suspicion. Bateman plays Clark, a mild-mannered weatherman whose relationship with his best friend’s wife (Linda Cardellini) sets off a chain of increasingly strange consequences. The multilayered series from writer/director Steve Conrad is at once a murder mystery and a character study that explores the indignities of middle age, the fragility of male friendship, and the desperate ways people try to feel alive again. In conversation with W's Editor at Large, Lynn Hirschberg, Bateman discusses how he kept viewers guessing, the role that saved his career, and why fatherhood turned him into a softie.

Did you like playing a weatherman in DTF St. Louis?

I’ve always wondered how they did the weather with that little clicker. As my character says, “These poor guys, they feel a little irrelevant because everyone has a weather app on their phones now.” But I do love weather on TV. The mood on DTF was an interesting thing to try to balance. It’s a murder mystery, so you’re supposed to wonder who did the killing. And however sweet or kind or unassuming my character might be, you have to weave in something a little sketchy to keep the mystery alive. So it was a little bit of a cocktail in every scene.

And you got to ride a recumbent bicycle.

Yeah, that’s his whip, a three-wheeler. He’s not big on four doors. That is not a great look. You're not crushing ass driving one of those things. To be honest, I thought, Is the recumbent bike a little on the nose? We get it. This guy's a dork. But it seemed to work.

You’ve been acting professionally for most of your life. Was there ever a point when you thought of quitting?

Well, when they stop calling, you’re like, Maybe I should try something else. But I don’t know anything else. I started when I was 10, and I am…what am I now? Fifty-seven! So, it’s been a bit. I got past the age where I could learn to do something else, and thank God Arrested Development came along. That put the paddles on my career chest. The guy who ran that show sent me my audition tape a few years ago. I look at it every once in a while. All you can do in an audition is guess what version of that character they’re looking for. And very luckily for me, I guessed right that day.

You seem to have an attraction to unusual material. Both DTF St. Louis and Black Rabbit are pretty dark.

I started on Little House on the Prairie, which was soft and family-oriented, and so maybe, subconsciously or consciously, I was thinking, Let’s try to do stuff that’s the opposite of that. I once played a bad guy in a movie called The Gift, and I asked the director why he wanted me in the film. He said, “People won’t see you coming: You look like nothing could go wrong, and then something does.”

Who was your cinematic crush when you were growing up?

Kristy McNichol. It was Battle of the Network Stars. That's why I'm growing my hair out. I want to get that Kristy McNichol look, the heavy feather on the side.

Where was your first kiss?

My first kiss was in a tree house in first grade. You know the trick where you take the bottom of your shirt, and you bring it up, then you pull it down and it becomes, like, a halter top or whatever? I don't know why I was doing that with her, but I did it, she did it, and then we kissed.

Do you get starstruck?

I do get very starstruck around athletes and musicians. I think that's common with actors, and apparently it works the other way as well, which is lucky for us because then they want to talk to us as much as we want to talk to them. It's one of the few good things about being pseudo-recognizable: If you feel like you want to fan out on somebody, they may cut that short by recognizing you and wanting to ask you a question, so you can skip a few dates and get right into a conversation like peers. I'm not jaded. I refuse to lose that part because then I would be bored at awards shows. And you want to be excited to be there and excited to meet all those people.

It was great when you won the Emmy for Ozark.

I was in kind of a blackout. All I wanted to do on that show was direct it, so to win for that was great.

Which movie or TV show makes you cry?

Ever since I had kids 19 years ago, everything, including commercials, makes me cry—especially if there's a toddler in it. I'm a real softie, but I love watching the recipe of what gets me, or anyone, emotional because it's usually a combination of a performance, writing, music, editing. It's a whole thing that a director has to construct and shape, and it's a pretty cool thing.

Have you ever said you could do something that you didn't know how to do to get a job?

Probably. We're professional liars. That's what we do. It doesn't stop in the audition room.

Do you watch reality shows?

I like this show called Alone, which is a survivor show where people get thrown into the middle of the wilderness. It has got some cinematic elements to it—this moody music, and they’ve got to build their shelter and find food. For someone who's grown up on soundstages, it's pretty impressive to see the discomfort these people can deal with.

Hair by Mustafa Yanaz for L’Oréal Professionnel; Paris at Art + Commerce; Makeup by Sam Visser for YSL Beauty at Art Partner; Manicure by Eri Handa for Dior Le Baume at Home Agency; Set design by Mila Taylor-Young. Produced by Prodn; Production Team: Mitch Baker, Noah Conboy, Steven Dam, Torrance Hall, Parker Hanley, Taryn Kelly, Conor McIntyre, Wesley Torrance, Daniel Weiner, Jasmine Williams; Photo Assistants: Keegan Gay, Jeremy Gould, Carlos Vigil; Digital Technician: Kylie Coutts; Fashion Assistants: Lizzie Bowden, Tori López, Kayla Perno, Sofia Prochilo, Celeste Roh, Tyler VanVranken; Tailor: Lindsay Wright; Hair Assistants: Tiana Amani, Harley Beman, Kazuto Shimomura; Makeup Assistants: Elika Hilata, Juan Jaar, Meghan Nguyen, Yuui Vision; Set Assistant: Kate Atkinson.

Well That Would Explain It, If Only… On the last Sunday of 2002 a Mandrake the Magicain adventure ended and so did the Mandrake Sunday page. And today we learn why. Mandrake was kidnapped by Sea Hag’s witch sister and kept in her dungeons until now. Which would be a great reveal except Mandrake continued […]

I remain astonished at the lack of notices from newspapers about the weekday Big Nate ending and what is replacing the daily comic strip in the 200 (give or take) papers. We ran a couple notices from newspapers about what would be filling the space. This past weekend it was noted that Wallace the Brave […]

True Whitaker was a theatrical child from the start. "I'm the youngest of four siblings. We were always doing little iMovie and Photo Booth movies,” the 27-year-old San Fernando Valley native says. “We'd write scripts, put on our little costumes, and edit them. We've been forcing everyone to watch us perform for years." These days, no one needs persuading. Whitaker is magnetic in Rachel Sennott’s HBO series I Love LA, which follows a crew of 20-somethings—played by Odessa A’zion, Josh Hutcherson, Jordan Firstman, and Sennott herself—all trying to make it in Los Angeles. As Alani Marcus, Whitaker plays the group’s laid-back, woo-woo pal whose nepo status—her dad is a successful filmmaker—places her in a different tax bracket than the rest of her friends. In reality, Whitaker’s father is the Oscar-winning actor Forest Whitaker, so she knows all too well the assumptions that can come with that kind of background. But don’t be quick to make any nepo-baby comparisons. After graduating from NYU, Whitaker threw herself into theater, studied method acting, and appeared on Godfather of Harlem before landing I Love LA. Below, she discusses the cast’s matching tattoos, her childhood Belieber phase, and the extremely Hollywood location of her first kiss.

How did I Love LA come into your life?

A friend of mine was auditioning for the role of Tallulah, and I was reading on the other side of the camera for her self-tape. I was reading this character, Alani, and I was like, "I know this girl. I resonate with this girl." I asked my agent if there was any chance for me to get an audition because I was already a huge fan of Rachel. She had been on my manifestation board. And then I got the audition, and I locked in.

Nearly everyone on your show got the same tattoo.

Yes, we all match—Odessa, Josh Hutcherson, and Jordan [Firstman]. It says “LA.” But I also have a full sleeve, including my mom’s name, Keisha, and my dad’s name.

What was the first job you booked?

It was on my dad’s show Godfather of Harlem. I played Sandra, who was pregnant and deciding to keep her baby while detoxing from heroin. I played her for a couple of seasons, and she ended up working as a nurse. She’s bright-eyed and bushy-tailed now. No more heroin chic.

What was your favorite birthday?

When I was 10 years old, my family went to London and we rented one of those big red buses. I have a deep memory of being on the top, feeling like a superstar, cheerio-ing everyone.

Who did you have a crush on when you were growing up?

My brain goes straight to Justin Bieber. I'm a Belieber. I was 11 when he was first getting popping with “One Time,” then “Baby.” I was hooked—loving the swoop. On-screen, Marlon Brando in A Streetcar Named Desire. I like a theater moment.

Did you have posters of Justin Bieber in your room?

Yes. I also had, randomly, a poster of Ryan from High School Musical—Sharpay’s gay brother. I don’t know where I was going with that. And I had pictures of A$AP Rocky. You could see the timeline of my life. I was clearly adding things as time happened and my taste would change.

What was your favorite Halloween costume?

Josephine Baker. I was dripped down in pearls, and I bought foam bananas, spray-painted them gold, bedazzled them, and turned them into a skirt. At the party that night, all my bananas were getting stuck on everyone. By the end, I was just in a gold bikini.

What are your pet peeves?

Slow walkers are always annoying. I'll just be behind them silently, like, "Come on," or I'll be like, "Just going to squeeze through!" I love to hit that phrase, and then it'll get more aggressive if they're not listening. But I like to keep things positive and light. If someone's dragging things, I'm like, "Let's be cheery." I sound almost misogynistic—"Let's see the smiles, ladies." I'm just trying to be positive out here.

Are you more like a dog or a cat?

A dog. I want to be giving cat, but I'm not. I'm giving golden retriever energy. I have a miniature pinscher. His name is Sebastian Totoro. He's chocolate brown with little blond patches. He's getting older, but he's still drop-dead gorgeous.

Do you watch reality shows?

I do. I recently was watching Love Island: Beyond the Villa, which honestly is good TV. I was disappointed when I ran out of episodes. And I love the Real Housewives.

Do you have a favorite?

I love Lisa Rinna. She's the best. I haven't seen the newer ones—Salt Lake City and the other places.

Which TV show or movie makes you cry?

Oh my God. So many things make me cry. I'll watch an audition for America's Got Talent, and that will make me cry. I'm really sensitive. I'm a Cancer. Cancers are very empathetic. You might walk in on them crying. They feel their feelings very deeply. I know I do.

Where was your first kiss?

On the Simpsons Ride at Universal Studios in Hollywood. When we dropped down to hell, it got really dark, and that’s when he decided to get in there. Right after I got off the ride, I ran to the bathroom and was like, Oh my God, oh my God. He’s still in my life to this day. Shout out to Lamont!

Hair by Mustafa Yanaz for L’Oréal Professionnel; Paris at Art + Commerce; Makeup by Sam Visser for YSL Beauty at Art Partner; Manicure by Eri Handa for Dior Le Baume at Home Agency; Set design by Mila Taylor-Young. Produced by Prodn; Production Team: Mitch Baker, Noah Conboy, Steven Dam, Torrance Hall, Parker Hanley, Taryn Kelly, Conor McIntyre, Wesley Torrance, Daniel Weiner, Jasmine Williams; Photo Assistants: Keegan Gay, Jeremy Gould, Carlos Vigil; Digital Technician: Kylie Coutts; Fashion Assistants: Lizzie Bowden, Tori López, Kayla Perno, Sofia Prochilo, Celeste Roh, Tyler VanVranken; Tailor: Lindsay Wright; Hair Assistants: Tiana Amani, Harley Beman, Kazuto Shimomura; Makeup Assistants: Elika Hilata, Juan Jaar, Meghan Nguyen, Yuui Vision; Set Assistant: Kate Atkinson.