US tech stocks sold off on Tuesday, and Federal Reserve chair Jay Powell will be between a rock and a hard place when he delivers his speech at the Jackson Hole Economic Policy Symposium this Friday. Plus, Ozempic-maker Novo Nordisk has fallen behind its rivals. Does it have a plan to catch up? 

Mentioned in this podcast:

Jay Powell to deliver Jackson Hole address under fire on multiple fronts

US tech stocks hit by wave of concerns over future of AI boom

How Novo Nordisk lost its lead in the weight loss race

Labubu frenzy sends Pop Mart profits soaring

Today’s FT News Briefing was produced by Fiona Symon, Katya Kumkova, Sonja Hutson, and Marc Filippino. Additional help from Kelly Garry, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music. 

Read a transcript of this episode on FT.com

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