Politics, tech, and crypto all delivered major headlines on Wednesday.
The White House has kicked off its search for a new Federal Reserve chair, Nvidia’s highly anticipated earnings have Wall Street on pause, and Adobe is making a big move with a $1.9B acquisition of Semrush.
Meanwhile, Bitcoin’s slide deepened, falling to a seven-month low as market jitters persist.
A glance at the major global developments today.
Trump begins search for new Fed chair
US President Donald Trump says his administration has begun interviewing candidates for the next Federal Reserve chair, hinting that a change in leadership at the central bank could be on the way.
He’s made it clear he hopes to replace the current chair, Jerome Powell, whose term runs until May 2026, and even suggested he already has a favorite in mind.
Treasury Secretary Scott Bessent is reportedly overseeing the interview process.
A shake-up at the Fed could have big implications for interest rates, monetary policy, and financial markets, since a new chair might take the economy in a different direction.
Any official appointment, though, would still need to be approved by the Senate.
Wall Street steady ahead of Nvidia earnings
US stocks were mostly steady as investors waited for Nvidia’s big third-quarter earnings report, especially after the recent pullback in tech.
Nvidia, a major force in the AI chip world, is expected to post huge growth again. Analysts are looking for a 54% jump in earnings per share to $1.26 and nearly 56% revenue growth to about $54.89 billion.
Because Nvidia makes up roughly 8% of the S&P 500, its results are seen as a major signal for the broader market, especially for AI-focused stocks.
Options traders are also bracing for a sizable price swing once the numbers come out, showing just how closely everyone’s watching this report.
Adobe makes $1.9B Semrush deal
Adobe is buying Semrush, the popular marketing software platform, in a $1.9 billion all-cash deal priced at $12 per share, almost double Semrush’s value before the news dropped.
The goal is to supercharge Adobe’s AI-powered marketing and SEO tools by folding Semrush’s capabilities into Adobe’s Digital Experience Cloud.
Semrush, well known for its SEO, brand visibility, and AI-driven search insights, works with major names like TikTok and Amazon.
The acquisition still needs regulatory and shareholder approval, but if all goes smoothly, it should wrap up in the first half of 2026.
For Adobe, it’s a strategic move to beef up its brand visibility and marketing tools as generative AI becomes an even bigger part of the industry.
Bitcoin drops below $90,000
Bitcoin returned below $90,000 on Wednesday, hitting its lowest level in seven months and extending a steep month-long decline that wiped out all its gains for 2025.
It’s been one of the sharpest 43-day drops since 2017, and it’s largely driven by investors pulling back amid choppy markets and growing risk aversion.
A few things are weighing on sentiment: renewed worries about a possible US–China trade war, uncertainty around future Federal Reserve rate decisions, and continued outflows from Bitcoin ETFs.
Some analysts think Bitcoin could find a bottom somewhere between $84,000 and $86,000, but the crypto market’s constant volatility is still making it tough for both institutions and everyday investors to fully commit.
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