US MARKET OPEN IS GOING TO BE BRUTAL TODAY. Futures are already down hard. S&P 500 futures down more than 1% Nasdaq futures down more than 2%. Moonshot AI's new Kimi K3 model, which the company claims performs close to Anthropic's Claude and OpenAI's GPT, just triggered a fresh wave of AI valuation fears. The shockwave hit Asia first. Taiwan closed down more than 6%, Japan closed down 4%. This is the same pattern that played out when China's DeepSeek crashed markets in January 2025. Every time a Chinese lab claims to close the gap at a fraction of the cost, US markets reprice the entire AI trade in real time.(Crypto Rover)