US politics, markets, and tech moves dominated Wednesday’s headlines.
Trump escalated tensions by calling for jail for Chicago leaders amid troop deployments.
Swiss giant ABB struck a $5.38B robotics deal with SoftBank, while gold surged past $4,000 as investors sought safe havens.
Meanwhile, the IMF and BoE warned that AI-driven market hype could spark a sudden stock correction.
Here’s a glance at major developments on Wednesday.
Trump threatens jail for Chicago leaders
US President Donald Trump stirred the political pot by calling for Chicago Mayor Brandon Johnson and Illinois Governor JB Pritzker, both Democrats, to be jailed.
He accused them of not doing enough to protect federal immigration officers in the city.
This comes as his administration moves to send hundreds of Texas National Guard troops to Chicago, amid rising tensions over immigration enforcement and protests against ICE operations.
Trump’s remarks also coincided with former FBI Director James Comey, another political rival, showing up in court on criminal charges that many have criticized as minor.
Johnson and Pritzker have pushed back hard against Trump’s immigration policies and the troop deployments, even taking legal steps to block the military presence, calling it unconstitutional.
Meanwhile, the Trump administration says the troops are needed to combat what they call “domestic terrorism” and rising crime.
ABB sells robotics unit to SoftBank
Swiss engineering giant ABB is selling its robotics division to Japan’s SoftBank for $5.38 billion, a big move as SoftBank ramps up its push into robotics and AI.
The deal is expected to close sometime in mid-to-late 2026, once all the regulatory approvals are in place.
ABB had originally planned to spin off the robotics unit, but now it’s taking a different route.
The division, which employs around 7,000 people and pulls in about $2.3 billion a year, has been struggling a bit with weaker demand in Asia.
For SoftBank, this is about more than just buying robots, as they want to merge ABB’s tech with their AI smarts to chase their vision of Artificial Super Intelligence.
ABB, on the other hand, will use the cash from the sale to fund growth, make acquisitions, and reward shareholders.
ABB CEO Morten Wierod called it a “partnership” that will speed up innovation in AI-powered robotics—basically, the start of something bigger on the tech horizon.
Gold tops $4,000 amid global uncertainty
Gold hit a major milestone, surging past $4,000 an ounce for the first time on October 8, 2025.
Investors are snapping it up as a safe haven amid rising economic and geopolitical uncertainty. Spot gold climbed 0.5% to $4,002.53, while December US gold futures also jumped 0.5% to $4,025.
This makes gold one of the top-performing assets of 2025, with a whopping 52% gain so far this year, building on last year’s 27% jump.
The rally is being fueled by expectations of more interest rate cuts from the US Federal Reserve, political turbulence in places like France and Japan, and strong buying from central banks and gold-backed ETFs.
Analysts say there’s a real “fear of missing out” among investors who keep buying even as prices soar.
Add in the ongoing US government shutdown, a weakening dollar, and growing debt worries, and it’s no surprise gold is shining as a go-to store of value right now.
IMF, BoE warn of AI bubble
The IMF and the Bank of England are sounding the alarm about the risks of a sudden stock market wobble fueled by the AI boom.
The BoE’s Financial Policy Committee pointed out that valuations of US AI-focused tech stocks are looking a lot like the dotcom bubble 25 years ago, warning that a sudden drop could be on the cards if investor optimism fades.
They are especially concerned that so much market value is concentrated in a handful of big AI players, think Nvidia, Microsoft, and Alphabet, making the market extra sensitive to any disappointments in AI growth.
The IMF chimed in too, saying that while AI drives innovation and efficiency, it can also create more volatility and opaque trading practices that threaten financial stability.
Both institutions are calling for stronger regulatory oversight, stressing the need to strike a balance between reaping AI’s benefits and keeping financial risks under control.
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