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The recent surge in demand for AI chips has propelled SK Hynix and Micron into the $1 trillion market capitalization club, highlighting the significant impact of artificial intelligence on the tech sector and broader markets.

Wes Streeting, a contender for the leadership of the UK's Labour Party, has proposed aligning capital gains tax with income tax rates, which could generate an estimated £12 billion for the Treasury. However, this proposal faces significant challenges, including potential negative impacts on wealth creators and the historical difficulties of implementing a wealth tax in the UK.

European stocks are set to open mixed as investors react to escalating military tensions involving Iran, which could impact market stability and investor sentiment.

A recent survey indicates that a significant number of European companies are choosing to maintain or expand their supply chains in China, highlighting the country's continued importance as a manufacturing hub despite geopolitical tensions.