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Ride-hailing company Didi plans to begin its first overseas robotaxi test in the United Arab Emirates later this year.

"It probably won't surprise anyone that we are again putting capital preservation at the top of our priorities," Einhorn said in his latest investor letter.

The investment bank said volumes will reach an estimated $240 billion in 2026 and grow at a 80% compound annual rate between 2025 and 2030.

The remarks show how a technology welcomed by corporations as a productivity boon can also pose serious threats, like uncovering new ways to hack into systems.

A prolonged blockage of the Strait of Hormuz for the next six to 12 months will mean an unavoidable recession, the billionaire investor said.

Bessent has previously said the Fed should hasten cutting interest rates, calling reductions "the only ingredient missing" for stronger economic growth.

Citigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share. 

JPMorgan CEO Jamie Dimon called the economy resilient, but pointed to an "increasingly complex set of risks" across global markets.

China's export growth slowed in March as manufacturers grappled with surging energy costs, with the Iran war disrupting supplies, while imports jumped more than expected.

Trading desks across Wall Street have been busy at the start of the year as institutional investors set new positions against the churn of AI-led disruption.

Fears of a private credit crisis arrived just as the growing and less transparent bond market was being included in more fixed-income ETFs.

The investor of the "Big Short" fame said he continues to hold long-dated put options on the artificial intelligence software firm.