Market Today: Tech Sell-Off, Major Settlements, and Corporate Restructuring

Market Trends & Sector Dynamics - Technology and semiconductor stocks faced sharp declines, with the NASDAQ 100 entering correction territory [1] - Global chip demand concerns triggered a sector-wide sell-off and investor rotation away from tech, while the Dow Jones Industrial Average surged over 600 points [2] - Foreign Motor reported better-than-expected second-quarter earnings and raised its full-year outlook due to F-series truck production recovery [4] - Corning stock fell over 12% despite beating second-quarter earnings estimates due to a cautious third-quarter outlook [6] Corporate Restructuring & Operations - Amazon is overhauling artificial intelligence operations, winding down in-house models, closing its San Francisco lab, and laying off 1,100 warehouse workers [3] - Visa announced plans to cut approximately 7,000 employees (implied by context of labor reductions) [4] - Sheen reported a 99 million dollar quarterly loss and disclosed a Federal Trade Commission investigation ahead of its Hong Kong initial public offering [5] Legal, Regulatory & Financial Risks - Johnson and Johnson agreed to pay up to 5.5 billion dollars to settle lawsuits regarding talc products causing cancer [3] - EBay and former executives agreed to pay 56 million dollars to resolve a harassment campaign lawsuit [4] - Cracker Barrel will pay outgoing CEO Julie Fels Msino 6 million dollars in exit fees and security costs following a failed rebranding effort [7]