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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.

The article highlights key stock movements and upcoming earnings reports, particularly focusing on Snowflake and Salesforce, both of which are facing challenges despite analyst support. This information is crucial for investors as it provides insights into potential market movements and company performance expectations.

Asia-Pacific markets experienced gains on Wednesday, driven by record highs in Japan and South Korea amid ongoing tensions in Iran and optimism surrounding ceasefire negotiations.