LatAm pre-open: the AI trade roared back — chips surged (SMH +3.3%), Tesla jumped 8% and Samsung rebounded — as Brazil paused at its record and oil bounced.

As the global AI trade cracks, money is rotating into Latin America's cheap banks and miners, pushing Brazil's Ibovespa to a record.

LatAm pre-open: money hid in defensives (US healthcare +3%) as Korea's Samsung kept sliding, but Apple rebounded and Brazil extended its record run to a new high.