Memory stocks SanDisk and Western Digital posted disappointing results, casting a pall over the AI and tech complex. SpaceX insider shares became eligible for sale today, adding to selling pressure. Non-tech stocks appeared stronger, with the Dow Jones Industrial Average poised for another record.

CME Group, the granddaddy of derivatives exchanges, launched single-stock futures on 50 of the biggest U.S. companies, partly aimed at retail investors who have flocked to risky leveraged and options income funds. The futures trade 23 hours a day, offering a simpler way to bet on stocks using leverage—more than margin debt allows, but less than the most speculative options. CME's business has benefited from the explosion in retail options trading, though returns from such products can be iffy; CME counters with fortresslike counterparty protection.

The response from crypto exchanges and prediction markets: "Hold my beer," signaling an escalating race to offer ever-riskier leverage to retail traders.