Treasury stress and chip curbs accompany a 1.64% SPY slide

QQQ opened 0.77% lower and finished down 1.41%, while SPY opened 0.74% lower and closed down 1.64%. Fiscal and Treasury-market concerns remained prominent. IMF officials called for the U.S. to reduce its deficit, and TLT reached a six-month low after a weak Treasury auction. Technology headlines included reports that the U.S. would maintain China chip restrictions and that OpenAI would buy Jony Ive's io Products for $6.5 billion. After the session, the EU reportedly proposed selective tariff elimination and joint investment in U.S. trade talks.