diff --git a/.changeset/eighty-moons-happen.md b/.changeset/eighty-moons-happen.md
new file mode 100644
index 0000000000..94fb3d313d
--- /dev/null
+++ b/.changeset/eighty-moons-happen.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+perf: reuse the cached value in the `<option>`/`<select>` value guard
diff --git a/.changeset/every-rabbits-rule.md b/.changeset/every-rabbits-rule.md
new file mode 100644
index 0000000000..e78df191a5
--- /dev/null
+++ b/.changeset/every-rabbits-rule.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: prevent malformed AST output for `<select>` with static `value` attribute
diff --git a/.changeset/fix-binding-ownership-ignore.md b/.changeset/fix-binding-ownership-ignore.md
new file mode 100644
index 0000000000..13c9c797e3
--- /dev/null
+++ b/.changeset/fix-binding-ownership-ignore.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: apply ownership mutation ignores to binding assignments
diff --git a/.changeset/gold-moons-shave.md b/.changeset/gold-moons-shave.md
new file mode 100644
index 0000000000..9ee98321b7
--- /dev/null
+++ b/.changeset/gold-moons-shave.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+perf: fold SSR block-open markers into the branch's first push
diff --git a/.changeset/heavy-pumas-report.md b/.changeset/heavy-pumas-report.md
new file mode 100644
index 0000000000..71a9422828
--- /dev/null
+++ b/.changeset/heavy-pumas-report.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: report `derived_invalid_export` for `export let x = $derived(...)` in runes mode
diff --git a/.changeset/keep-radio-default-checked.md b/.changeset/keep-radio-default-checked.md
new file mode 100644
index 0000000000..b3b32afda6
--- /dev/null
+++ b/.changeset/keep-radio-default-checked.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: keep `defaultChecked` on hydrated radio inputs with spread attributes
diff --git a/.changeset/moody-lamps-slide.md b/.changeset/moody-lamps-slide.md
new file mode 100644
index 0000000000..5832f12e42
--- /dev/null
+++ b/.changeset/moody-lamps-slide.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: measure nested transitions before applying their starting styles
diff --git a/.changeset/olive-pugs-shake.md b/.changeset/olive-pugs-shake.md
new file mode 100644
index 0000000000..abd0db2152
--- /dev/null
+++ b/.changeset/olive-pugs-shake.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+perf: emit `$.only_child` for elements with a single child
diff --git a/.changeset/open-parents-stare.md b/.changeset/open-parents-stare.md
new file mode 100644
index 0000000000..cb94267ea0
--- /dev/null
+++ b/.changeset/open-parents-stare.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: more robust rendering of Svelte custom element slots
diff --git a/.changeset/quiet-context-segment.md b/.changeset/quiet-context-segment.md
new file mode 100644
index 0000000000..7af36f8ed3
--- /dev/null
+++ b/.changeset/quiet-context-segment.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: end a restored reaction context at the end of its synchronous segment
diff --git a/.changeset/quiet-deriveds-unwind.md b/.changeset/quiet-deriveds-unwind.md
new file mode 100644
index 0000000000..8036bdb781
--- /dev/null
+++ b/.changeset/quiet-deriveds-unwind.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: keep the dependencies of a reaction that throws, so deriveds it read are neither leaked nor stuck in their error
diff --git a/.changeset/quiet-swans-invent.md b/.changeset/quiet-swans-invent.md
new file mode 100644
index 0000000000..3b35a933d5
--- /dev/null
+++ b/.changeset/quiet-swans-invent.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+perf: use `$.comment()` for single-comment templates
diff --git a/.changeset/setters-cache-set.md b/.changeset/setters-cache-set.md
new file mode 100644
index 0000000000..2013446bc5
--- /dev/null
+++ b/.changeset/setters-cache-set.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+perf: store setters cache as `Set` instead of `Array`
diff --git a/.changeset/slow-dots-smile.md b/.changeset/slow-dots-smile.md
new file mode 100644
index 0000000000..18d2517b6c
--- /dev/null
+++ b/.changeset/slow-dots-smile.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: transform derived assignments and select function bindings correctly during server-side rendering
diff --git a/.changeset/ssr-empty-boolean-attribute.md b/.changeset/ssr-empty-boolean-attribute.md
new file mode 100644
index 0000000000..dbf5465014
--- /dev/null
+++ b/.changeset/ssr-empty-boolean-attribute.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: keep boolean attributes with an empty string value when rendering attribute objects on the server
diff --git a/.changeset/svelte-url-protocol-port.md b/.changeset/svelte-url-protocol-port.md
new file mode 100644
index 0000000000..2c37fce4ab
--- /dev/null
+++ b/.changeset/svelte-url-protocol-port.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: sync `SvelteURL` port signal when the protocol setter clears the port
diff --git a/.changeset/tall-hounds-tap.md b/.changeset/tall-hounds-tap.md
new file mode 100644
index 0000000000..3a9f7d79cb
--- /dev/null
+++ b/.changeset/tall-hounds-tap.md
@@ -0,0 +1,5 @@
+---
+'svelte': minor
+---
+
+feat: support `defaultValue` on `<select>`
diff --git a/.changeset/thick-plums-wave.md b/.changeset/thick-plums-wave.md
new file mode 100644
index 0000000000..d8b454bb90
--- /dev/null
+++ b/.changeset/thick-plums-wave.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: block declaration tags and `{@const}` on async values read inside closures
diff --git a/.changeset/three-peas-smoke.md b/.changeset/three-peas-smoke.md
new file mode 100644
index 0000000000..9a151c0046
--- /dev/null
+++ b/.changeset/three-peas-smoke.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: avoid css tree-shaking for exported Snippet
diff --git a/.changeset/tidy-owls-repeat.md b/.changeset/tidy-owls-repeat.md
new file mode 100644
index 0000000000..2ef02e2051
--- /dev/null
+++ b/.changeset/tidy-owls-repeat.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+perf: treat `<img loading>` as a static element again
diff --git a/.changeset/tricky-donkeys-clap.md b/.changeset/tricky-donkeys-clap.md
new file mode 100644
index 0000000000..b363b4ff57
--- /dev/null
+++ b/.changeset/tricky-donkeys-clap.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: preserve line feed character references in attribute values
diff --git a/.changeset/uppercase-hex-entities.md b/.changeset/uppercase-hex-entities.md
new file mode 100644
index 0000000000..e6e13d5df5
--- /dev/null
+++ b/.changeset/uppercase-hex-entities.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: decode uppercase-`X` hex numeric character references (`&#X...;`)
diff --git a/documentation/docs/03-template-syntax/12-bind.md b/documentation/docs/03-template-syntax/12-bind.md
index b93f207e71..ee91d607f0 100644
--- a/documentation/docs/03-template-syntax/12-bind.md
+++ b/documentation/docs/03-template-syntax/12-bind.md
@@ -251,6 +251,19 @@ You can give the `<select>` a default value by adding a `selected` attribute to
 </select>
 ```
 
+Since 5.57.0, if a `<select>` has a `defaultValue` and is part of a form, it will revert to that value instead of the empty string when the form is reset. Note that for the initial render the value of the binding takes precedence unless it is `null` or `undefined`.
+
+```svelte
+<form>
+	<select bind:value defaultValue="b">
+		<option>a</option>
+		<option>b</option>
+		<option>c</option>
+	</select>
+	<input type="reset" value="Reset">
+</form>
+```
+
 ## `<audio>`
 
 `<audio>` elements have their own set of bindings — five two-way ones...
diff --git a/documentation/docs/06-runtime/02-context.md b/documentation/docs/06-runtime/02-context.md
index 439272df8f..a1e0347b7b 100644
--- a/documentation/docs/06-runtime/02-context.md
+++ b/documentation/docs/06-runtime/02-context.md
@@ -165,9 +165,9 @@ Svelte will warn you if you get it wrong.
 
 Similarly, to pass primitive values through context, use functions as described in [Passing state into functions]($state#Passing-state-into-functions).
 
-## Component testing
+## Mounting components with context
 
-When writing [component tests](testing#Unit-and-component-tests-with-Vitest-Component-testing), it can be useful to create a wrapper component that sets the context in order to check the behaviour of a component that uses it. As of version 5.49, you can do this sort of thing:
+To mount a component with specific context, create a wrapper component that sets the context before rendering the component. This is useful for [component tests](testing#Unit-and-component-tests-with-Vitest-Component-testing), or any other scenario that needs to provide context through `mount`. As of version 5.49, you can do this sort of thing:
 
 ```js
 import { mount, unmount } from 'svelte';
@@ -193,6 +193,8 @@ test('MyComponent', () => {
 
 This approach also works with [`hydrate`](imperative-component-api#hydrate) and [`render`](imperative-component-api#render).
 
+The context set by the wrapper only applies to that mounted component tree. Each call to `mount`, `hydrate` or `render` creates a separate wrapper instance, so the context does not leak into other mounted components.
+
 ## Replacing global state
 
 When you have state shared by many different components, you might be tempted to put it in its own module and just import it wherever it's needed:
diff --git a/packages/svelte/elements.d.ts b/packages/svelte/elements.d.ts
index daa40635b6..15837f831a 100644
--- a/packages/svelte/elements.d.ts
+++ b/packages/svelte/elements.d.ts
@@ -1352,6 +1352,9 @@ export interface HTMLSelectAttributes extends HTMLAttributes<HTMLSelectElement>
 	required?: boolean | undefined | null;
 	size?: number | undefined | null;
 	value?: any;
+	// needs both casing variants because language tools does lowercase names of non-shorthand attributes
+	defaultValue?: any;
+	defaultvalue?: any;
 
 	'on:change'?: ChangeEventHandler<HTMLSelectElement> | undefined | null;
 	onchange?: ChangeEventHandler<HTMLSelectElement> | undefined | null;
diff --git a/packages/svelte/src/compiler/phases/1-parse/utils/html.js b/packages/svelte/src/compiler/phases/1-parse/utils/html.js
index a0c2a5b06f..ccb2005054 100644
--- a/packages/svelte/src/compiler/phases/1-parse/utils/html.js
+++ b/packages/svelte/src/compiler/phases/1-parse/utils/html.js
@@ -20,7 +20,7 @@ function reg_exp_entity(entity_name, is_attribute_value) {
 
 /** @param {boolean} is_attribute_value */
 function get_entity_pattern(is_attribute_value) {
-	const reg_exp_num = '#(?:x[a-fA-F\\d]+|\\d+)(?:;)?';
+	const reg_exp_num = '#(?:[xX][a-fA-F\\d]+|\\d+)(?:;)?';
 	const reg_exp_entities = Object.keys(entities).map(
 		/** @param {any} entity_name */ (entity_name) => reg_exp_entity(entity_name, is_attribute_value)
 	);
@@ -50,7 +50,7 @@ export function decode_character_references(html, is_attribute_value) {
 			// Handle named entities
 			if (entity[0] !== '#') {
 				code = entities[entity];
-			} else if (entity[1] === 'x') {
+			} else if (entity[1] === 'x' || entity[1] === 'X') {
 				code = parseInt(entity.substring(2), 16);
 			} else {
 				code = parseInt(entity.substring(1), 10);
@@ -60,7 +60,7 @@ export function decode_character_references(html, is_attribute_value) {
 				return match;
 			}
 
-			return String.fromCodePoint(validate_code(code));
+			return String.fromCodePoint(validate_code(code, is_attribute_value));
 		}
 	);
 }
@@ -75,10 +75,15 @@ const NUL = 0;
 // Also see: https://en.wikipedia.org/wiki/Plane_(Unicode)
 // Also see: https://html.spec.whatwg.org/multipage/parsing.html#preprocessing-the-input-stream
 
-/** @param {number} code */
-function validate_code(code) {
-	// line feed becomes generic whitespace
-	if (code === 10) {
+/**
+ * @param {number} code
+ * @param {boolean} is_attribute_value
+ */
+function validate_code(code, is_attribute_value) {
+	// line feed becomes generic whitespace, since it is collapsed along with the
+	// surrounding whitespace anyway. In an attribute value it is significant, so it
+	// is left alone there
+	if (code === 10 && !is_attribute_value) {
 		return 32;
 	}
 
diff --git a/packages/svelte/src/compiler/phases/2-analyze/index.js b/packages/svelte/src/compiler/phases/2-analyze/index.js
index 6b5ad5ad51..3ceecc1bec 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/index.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/index.js
@@ -285,7 +285,7 @@ export function analyze_module(source, options) {
 		runes: true,
 		immutable: true,
 		tracing: false,
-		async_deriveds: new Set(),
+		async_deriveds: new Map(),
 		comments,
 		classes: new Map(),
 		pickled_awaits: new Set()
@@ -566,7 +566,7 @@ export function analyze_component(root, source, options) {
 		source,
 		snippet_renderers: new Map(),
 		snippets: new Set(),
-		async_deriveds: new Set(),
+		async_deriveds: new Map(),
 		pickled_awaits: new Set(),
 		instance_body: {
 			sync: [],
@@ -841,6 +841,11 @@ export function analyze_component(root, source, options) {
 					} else {
 						e.export_undefined(specifier, name);
 					}
+				} else if (binding.initial?.type === 'SnippetBlock') {
+					// If a snippet is exported, a consumer could only import this named export and not the default export (the component).
+					// In this case we need to set hasGlobal of our output to true so that e.g. vite-plugin-svelte does not tell Vite to
+					// tree-shake the CSS if the default export is not used.
+					analysis.css.has_global = true;
 				}
 			}
 		}
diff --git a/packages/svelte/src/compiler/phases/2-analyze/visitors/AwaitExpression.js b/packages/svelte/src/compiler/phases/2-analyze/visitors/AwaitExpression.js
index 5a54d62471..c29f469ad0 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/visitors/AwaitExpression.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/visitors/AwaitExpression.js
@@ -1,6 +1,7 @@
 /** @import { AwaitExpression, Expression, SpreadElement, Property } from 'estree' */
 /** @import { Context } from '../types' */
 /** @import { AST } from '#compiler' */
+/** @import { ExpressionMetadata } from '../../nodes.js' */
 import * as e from '../../../errors.js';
 
 /**
@@ -10,15 +11,20 @@ import * as e from '../../../errors.js';
 export function AwaitExpression(node, context) {
 	const tla = context.state.ast_type === 'instance' && context.state.function_depth === 1;
 
-	// preserve context for awaits that precede other expressions in template or `$derived(...)`
 	if (
 		is_reactive_expression(
 			context.path,
 			context.state.derived_function_depth === context.state.function_depth
-		) &&
-		!is_last_evaluated_expression(context.path, node)
+		)
 	) {
-		context.state.analysis.pickled_awaits.add(node);
+		const expression = /** @type {ExpressionMetadata} */ (context.state.expression);
+
+		// preserve context for awaits that precede other expressions in template or `$derived(...)`,
+		// and for any await that follows one, so the restored context ends at the next suspension
+		if (expression.has_pickled_await || !is_last_evaluated_expression(context.path, node)) {
+			context.state.analysis.pickled_awaits.add(node);
+			expression.has_pickled_await = true;
+		}
 	}
 
 	let suspend = tla;
diff --git a/packages/svelte/src/compiler/phases/2-analyze/visitors/CallExpression.js b/packages/svelte/src/compiler/phases/2-analyze/visitors/CallExpression.js
index d3524af4db..312a93e5fd 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/visitors/CallExpression.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/visitors/CallExpression.js
@@ -253,7 +253,7 @@ export function CallExpression(node, context) {
 		});
 
 		if (expression.has_await) {
-			context.state.analysis.async_deriveds.add(node);
+			context.state.analysis.async_deriveds.set(node, expression);
 		}
 
 		// Tell surrounding declaration tag about metadata for correct calculation of blockers etc
diff --git a/packages/svelte/src/compiler/phases/2-analyze/visitors/DeclarationTag.js b/packages/svelte/src/compiler/phases/2-analyze/visitors/DeclarationTag.js
index 52e9480838..2f72b16c72 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/visitors/DeclarationTag.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/visitors/DeclarationTag.js
@@ -43,7 +43,8 @@ export function DeclarationTag(node, context) {
  */
 export function mark_async_declaration(context, metadata, declarations) {
 	const has_await = metadata.expression.has_await;
-	const blockers = [...metadata.expression.dependencies]
+	// reads inside closures must block too, like they do in template expressions
+	const blockers = [...metadata.expression.references]
 		.map((dep) => dep.blocker)
 		.filter((b) => b !== null && b.object !== context.state.async_consts?.id);
 
diff --git a/packages/svelte/src/compiler/phases/2-analyze/visitors/ExportNamedDeclaration.js b/packages/svelte/src/compiler/phases/2-analyze/visitors/ExportNamedDeclaration.js
index 5b8d9ba053..dec6ebe2b4 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/visitors/ExportNamedDeclaration.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/visitors/ExportNamedDeclaration.js
@@ -1,4 +1,4 @@
-/** @import { ExportNamedDeclaration, Identifier } from 'estree' */
+/** @import { ExportNamedDeclaration, Identifier, VariableDeclaration } from 'estree' */
 /** @import { Context } from '../types' */
 import * as e from '../../../errors.js';
 import { extract_identifiers } from '../../../utils/ast.js';
@@ -23,15 +23,6 @@ export function ExportNamedDeclaration(node, context) {
 	}
 
 	if (node.declaration?.type === 'VariableDeclaration') {
-		// in runes mode, forbid `export let`
-		if (
-			context.state.analysis.runes &&
-			context.state.ast_type === 'instance' &&
-			node.declaration.kind === 'let'
-		) {
-			e.legacy_export_invalid(node);
-		}
-
 		for (const declarator of node.declaration.declarations) {
 			for (const id of extract_identifiers(declarator.id)) {
 				const binding = context.state.scope.get(id.name);
@@ -46,6 +37,15 @@ export function ExportNamedDeclaration(node, context) {
 				}
 			}
 		}
+
+		// in runes mode, forbid `export let`
+		if (
+			context.state.analysis.runes &&
+			context.state.ast_type === 'instance' &&
+			node.declaration.kind === 'let'
+		) {
+			e.legacy_export_invalid(node);
+		}
 	}
 
 	if (context.state.analysis.runes) {
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/transform-template/index.js b/packages/svelte/src/compiler/phases/3-transform/client/transform-template/index.js
index ba20f31912..3b05205781 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/transform-template/index.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/transform-template/index.js
@@ -40,6 +40,12 @@ export function transform_template(state, name, flags = 0) {
 	// custom renderers needs a tree to work because there's no template element we can use
 	const tree = state.options.fragments === 'tree' || custom_renderer;
 
+	const { nodes } = state.template;
+	const is_lone_anchor = nodes.length === 1 && nodes[0].type === 'comment';
+
+	// special case - `$.comment` creates the anchor more cheaply than cloning a template
+	if (is_lone_anchor) return b.id('$.comment');
+
 	const expression = tree ? state.template.as_tree() : state.template.as_html();
 
 	const key =
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/utils.js b/packages/svelte/src/compiler/phases/3-transform/client/utils.js
index d52b438d92..9cdfa5cae1 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/utils.js
@@ -2,6 +2,7 @@
 /** @import { Binding } from '#compiler' */
 /** @import { ClientTransformState, ComponentClientTransformState } from './types.js' */
 /** @import { Analysis } from '../../types.js' */
+/** @import { ExpressionMetadata } from '../../nodes.js' */
 /** @import { Scope } from '../../scope.js' */
 import * as b from '#compiler/builders';
 import { is_simple_expression, save } from '../../../utils/ast.js';
@@ -164,20 +165,46 @@ export function should_proxy(node, scope) {
 	return true;
 }
 
+/**
+ * An async thunk. If an `await` inside restores the reaction context via `$.save`,
+ * the body exits through `$.unsave` so the context cannot leak into foreign microtasks
+ * that run before the returned promise settles
+ * @param {Expression | BlockStatement} body
+ * @param {ExpressionMetadata} metadata
+ */
+export function async_thunk(body, metadata) {
+	if (!metadata.has_pickled_await) {
+		return b.arrow([], body, true);
+	}
+
+	const block = body.type === 'BlockStatement' ? body : b.block([b.return(body)]);
+
+	return b.arrow(
+		[],
+		b.block([
+			{
+				type: 'TryStatement',
+				block,
+				handler: null,
+				finalizer: b.block([b.stmt(b.call('$.unsave'))])
+			}
+		]),
+		true
+	);
+}
+
 /**
  * Svelte legacy mode should use safe equals in most places, runes mode shouldn't
  * @param {ComponentClientTransformState} state
  * @param {Expression | BlockStatement} expression
- * @param {boolean} [async]
+ * @param {ExpressionMetadata} [metadata]
  */
-export function create_derived(state, expression, async = false) {
-	const thunk = b.thunk(expression, async);
-
-	if (async) {
-		return save(b.call('$.async_derived', thunk));
-	} else {
-		return b.call(state.analysis.runes ? '$.derived' : '$.derived_safe_equal', thunk);
+export function create_derived(state, expression, metadata) {
+	if (metadata?.has_await) {
+		return save(b.call('$.async_derived', async_thunk(expression, metadata)));
 	}
+
+	return b.call(state.analysis.runes ? '$.derived' : '$.derived_safe_equal', b.thunk(expression));
 }
 
 /**
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/AwaitBlock.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/AwaitBlock.js
index b8def178f2..986cd789d9 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/AwaitBlock.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/AwaitBlock.js
@@ -1,9 +1,9 @@
 /** @import { BlockStatement, Pattern, Statement } from 'estree' */
 /** @import { AST } from '#compiler' */
 /** @import { ComponentClientTransformState, ComponentContext } from '../types' */
-import { extract_identifiers, is_expression_async } from '../../../../utils/ast.js';
+import { extract_identifiers } from '../../../../utils/ast.js';
 import * as b from '#compiler/builders';
-import { create_derived } from '../utils.js';
+import { async_thunk, create_derived } from '../utils.js';
 import { get_value } from './shared/declarations.js';
 import { build_expression, add_svelte_meta } from './shared/utils.js';
 
@@ -15,10 +15,10 @@ export function AwaitBlock(node, context) {
 	context.state.template.push_comment();
 
 	// Visit {#await <expression>} first to ensure that scopes are in the correct order
-	const expression = b.thunk(
-		build_expression(context, node.expression, node.metadata.expression),
-		node.metadata.expression.has_await
-	);
+	const input = build_expression(context, node.expression, node.metadata.expression);
+	const expression = node.metadata.expression.has_await
+		? async_thunk(input, node.metadata.expression)
+		: b.thunk(input);
 
 	let then_block;
 	let catch_block;
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/BindDirective.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/BindDirective.js
index 6838e5006d..c7bf24b3f9 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/BindDirective.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/BindDirective.js
@@ -1,7 +1,7 @@
 /** @import { CallExpression, Expression, Pattern } from 'estree' */
 /** @import { AST } from '#compiler' */
 /** @import { ComponentContext } from '../types' */
-import { dev, is_ignored } from '../../../../state.js';
+import { dev, ignore_map, is_ignored } from '../../../../state.js';
 import { is_text_attribute } from '../../../../utils/ast.js';
 import * as b from '#compiler/builders';
 import { binding_properties } from '../../../bindings.js';
@@ -40,9 +40,15 @@ export function BindDirective(node, context) {
 			validate_binding(context.state, node, expression);
 		}
 
-		const assignment = /** @type {Expression} */ (
-			context.visit(b.assignment('=', /** @type {Pattern} */ (node.expression), b.id('$$value')))
+		const raw_assignment = b.assignment(
+			'=',
+			/** @type {Pattern} */ (node.expression),
+			b.id('$$value')
 		);
+		// The assignment is generated, so inherit any ignores attached to the binding
+		ignore_map.set(raw_assignment, ignore_map.get(node) ?? []);
+
+		const assignment = /** @type {Expression} */ (context.visit(raw_assignment));
 
 		if (dev) {
 			// in dev, create named functions, so that `$inspect(...)` delivers
@@ -58,16 +64,7 @@ export function BindDirective(node, context) {
 			get = b.thunk(expression);
 
 			/** @type {Expression | undefined} */
-			set = b.unthunk(
-				b.arrow(
-					[b.id('$$value')],
-					/** @type {Expression} */ (
-						context.visit(
-							b.assignment('=', /** @type {Pattern} */ (node.expression), b.id('$$value'))
-						)
-					)
-				)
-			);
+			set = b.unthunk(b.arrow([b.id('$$value')], assignment));
 
 			if (get === set) {
 				set = undefined;
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js
index 63c84a507c..b3b2358e4c 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/ConstTag.js
@@ -19,7 +19,7 @@ export function ConstTag(node, context) {
 	if (declaration.id.type === 'Identifier') {
 		const init = build_expression(context, declaration.init, node.metadata.expression);
 
-		let expression = create_derived(context.state, init, node.metadata.expression.has_await);
+		let expression = create_derived(context.state, init, node.metadata.expression);
 
 		if (dev) {
 			expression = b.call('$.tag', expression, b.literal(declaration.id.name));
@@ -69,7 +69,7 @@ export function ConstTag(node, context) {
 					b.return(b.object(identifiers.map((node) => b.prop('init', node, node))))
 				]);
 
-		let expression = create_derived(context.state, block, node.metadata.expression.has_await);
+		let expression = create_derived(context.state, block, node.metadata.expression);
 
 		if (dev) {
 			expression = b.call('$.tag', expression, b.literal('[@const]'));
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/DeclarationTag.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/DeclarationTag.js
index abec5e828f..ceb81a468d 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/DeclarationTag.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/DeclarationTag.js
@@ -3,6 +3,7 @@
 /** @import { ComponentContext } from '../types' */
 import { extract_identifiers, has_await_expression } from '../../../../utils/ast.js';
 import * as b from '#compiler/builders';
+import { async_thunk } from '../utils.js';
 import { add_state_transformers } from './shared/declarations.js';
 
 /**
@@ -70,7 +71,7 @@ export function add_async_declaration(context, metadata, ids, assignments, kind
 		context.state.consts.push(kind === 'var' ? b.var(id.name) : b.let(id.name));
 	}
 
-	const blockers = [...metadata.expression.dependencies]
+	const blockers = [...metadata.expression.references]
 		.map((dep) => dep.blocker)
 		.filter((b) => b !== null && b.object !== context.state.async_consts?.id);
 
@@ -85,5 +86,5 @@ export function add_async_declaration(context, metadata, ids, assignments, kind
 		metadata.expression.has_await ||
 		assignments.some((assignment) => has_await_expression(assignment));
 	const body = assignments.length === 1 ? assignments[0].expression : b.block(assignments);
-	run.thunks.push(b.thunk(body, has_await));
+	run.thunks.push(has_await ? async_thunk(body, metadata.expression) : b.thunk(body));
 }
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/EachBlock.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/EachBlock.js
index b33eddd461..e0bd8d797a 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/EachBlock.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/EachBlock.js
@@ -12,6 +12,7 @@ import {
 import { dev } from '../../../../state.js';
 import { extract_paths, object } from '../../../../utils/ast.js';
 import * as b from '#compiler/builders';
+import { async_thunk } from '../utils.js';
 import { get_value } from './shared/declarations.js';
 import { build_expression, add_svelte_meta } from './shared/utils.js';
 
@@ -313,7 +314,9 @@ export function EachBlock(node, context) {
 
 	const has_await = node.metadata.expression.has_await;
 
-	const get_collection = b.thunk(collection, has_await);
+	const get_collection = has_await
+		? async_thunk(collection, node.metadata.expression)
+		: b.thunk(collection);
 	const thunk = has_await ? b.thunk(b.call('$.get', b.id('$$collection'))) : get_collection;
 
 	const render_args = [b.id('$$anchor'), item];
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/Fragment.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/Fragment.js
index 893b1db568..1272290c4a 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/Fragment.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/Fragment.js
@@ -141,14 +141,9 @@ export function Fragment(node, context) {
 				flags |= TEMPLATE_USE_IMPORT_NODE;
 			}
 
-			if (state.template.nodes.length === 1 && state.template.nodes[0].type === 'comment') {
-				// special case — we can use `$.comment` instead of creating a unique template
-				state.init.unshift(b.var(id, b.call('$.comment')));
-			} else {
-				const template_name = transform_template(state, 'root', flags);
+			const template_name = transform_template(state, 'root', flags);
 
-				state.init.unshift(b.var(id, b.call(template_name)));
-			}
+			state.init.unshift(b.var(id, b.call(template_name)));
 
 			close = b.stmt(b.call('$.append', b.id('$$anchor'), id));
 		}
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/HtmlTag.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/HtmlTag.js
index 6c8b7c0354..910f0a1239 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/HtmlTag.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/HtmlTag.js
@@ -2,6 +2,7 @@
 /** @import { ComponentContext } from '../types' */
 import { is_ignored } from '../../../../state.js';
 import * as b from '#compiler/builders';
+import { async_thunk } from '../utils.js';
 import { build_expression } from './shared/utils.js';
 
 /**
@@ -46,7 +47,7 @@ export function HtmlTag(node, context) {
 					'$.async',
 					context.state.node,
 					node.metadata.expression.blockers(),
-					has_await ? b.array([b.thunk(expression, true)]) : b.void0,
+					has_await ? b.array([async_thunk(expression, node.metadata.expression)]) : b.void0,
 					b.arrow(
 						has_await ? [context.state.node, b.id('$$html')] : [context.state.node],
 						b.block([statement])
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/IfBlock.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/IfBlock.js
index b0cd51ce3f..5dcb3991c2 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/IfBlock.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/IfBlock.js
@@ -2,6 +2,7 @@
 /** @import { AST } from '#compiler' */
 /** @import { ComponentContext } from '../types' */
 import * as b from '#compiler/builders';
+import { async_thunk } from '../utils.js';
 import { build_expression, add_svelte_meta } from './shared/utils.js';
 
 /**
@@ -117,7 +118,7 @@ export function IfBlock(node, context) {
 					'$.async',
 					context.state.node,
 					node.metadata.expression.blockers(),
-					has_await ? b.array([b.thunk(expression, true)]) : b.void0,
+					has_await ? b.array([async_thunk(expression, node.metadata.expression)]) : b.void0,
 					b.arrow(
 						has_await ? [context.state.node, b.id('$$condition')] : [context.state.node],
 						b.block(statements)
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/KeyBlock.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/KeyBlock.js
index 143a4e8edd..1831e7abab 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/KeyBlock.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/KeyBlock.js
@@ -2,6 +2,7 @@
 /** @import { AST } from '#compiler' */
 /** @import { ComponentContext } from '../types' */
 import * as b from '#compiler/builders';
+import { async_thunk } from '../utils.js';
 import { build_expression, add_svelte_meta } from './shared/utils.js';
 
 /**
@@ -31,7 +32,7 @@ export function KeyBlock(node, context) {
 					'$.async',
 					context.state.node,
 					node.metadata.expression.blockers(),
-					has_await ? b.array([b.thunk(expression, true)]) : b.void0,
+					has_await ? b.array([async_thunk(expression, node.metadata.expression)]) : b.void0,
 					b.arrow(
 						has_await ? [context.state.node, b.id('$$key')] : [context.state.node],
 						b.block([statement])
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js
index 7a2e133911..71b23b2ea0 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js
@@ -1,4 +1,4 @@
-/** @import { ArrayExpression, Expression, ExpressionStatement, Identifier, MemberExpression, ObjectExpression } from 'estree' */
+/** @import { ArrayExpression, Expression, ExpressionStatement, Identifier, MemberExpression, ObjectExpression, Statement } from 'estree' */
 /** @import { AST } from '#compiler' */
 /** @import { ComponentClientTransformState, ComponentContext } from '../types' */
 /** @import { Scope } from '../../../scope' */
@@ -232,6 +232,12 @@ export function RegularElement(node, context) {
 				continue;
 			}
 
+			// `<select defaultValue>` needs the options to exist before it can mark one
+			// as selected, so it is handled after the children, alongside `value`
+			if (node.name === 'select' && get_attribute_name(node, attribute) === 'defaultValue') {
+				continue;
+			}
+
 			const name = get_attribute_name(node, attribute);
 
 			if (
@@ -451,7 +457,7 @@ export function RegularElement(node, context) {
 			state: child_state
 		});
 
-		if (needs_reset) {
+		if (needs_reset && !fold_reset_into_child(child_state.init, context.state.node)) {
 			child_state.init.push(b.stmt(b.call('$.reset', context.state.node)));
 		}
 	}
@@ -530,6 +536,34 @@ export function RegularElement(node, context) {
 		}
 	}
 
+	// deferred from the attribute loop above, so that the options it selects from
+	// have been created and had their values assigned
+	if (!has_spread && name === 'select') {
+		const default_value = /** @type {AST.Attribute[]} */ (attributes).find(
+			(attribute) => get_attribute_name(node, attribute) === 'defaultValue'
+		);
+
+		if (default_value) {
+			const { value, has_state } = build_attribute_value(default_value.value, context, (v, m) =>
+				context.state.memoizer.add(v, m)
+			);
+
+			(has_state ? context.state.update : context.state.init).push(
+				b.stmt(b.call('$.set_default_select_value', node_id, value))
+			);
+		}
+
+		const value_attribute = lookup.get('value');
+		const dynamic_value =
+			value_attribute !== undefined &&
+			value_attribute.value !== true &&
+			!is_text_attribute(value_attribute);
+
+		if (default_value || dynamic_value || bindings.has('value')) {
+			context.state.init.push(b.stmt(b.call('$.init_select', node_id)));
+		}
+	}
+
 	context.state.template.pop_element();
 }
 
@@ -720,28 +754,32 @@ function build_element_special_value_attribute(
 	);
 
 	const evaluated = context.state.scope.evaluate(value);
-	const assignment = b.assignment('=', b.member(node_id, '__value'), value);
 
-	const set_value_assignment = b.assignment(
-		'=',
-		b.member(node_id, 'value'),
-		evaluated.is_defined ? assignment : b.logical('??', assignment, b.literal(''))
-	);
+	/** @param {Expression} value */
+	const build_update = (value) => {
+		const assignment = b.assignment('=', b.member(node_id, '__value'), value);
 
-	const update = b.stmt(
-		is_select_with_value
-			? b.sequence([
-					set_value_assignment,
-					// This ensures a one-way street to the DOM in case it's <select {value}>
-					// and not <select bind:value>. We need it in addition to $.init_select
-					// because the select value is not reflected as an attribute, so the
-					// mutation observer wouldn't notice.
-					b.call('$.select_option', node_id, value)
-				])
-			: synthetic
-				? assignment
-				: set_value_assignment
-	);
+		const set_value_assignment = b.assignment(
+			'=',
+			b.member(node_id, 'value'),
+			evaluated.is_defined ? assignment : b.logical('??', assignment, b.literal(''))
+		);
+
+		return b.stmt(
+			is_select_with_value
+				? b.sequence([
+						set_value_assignment,
+						// This ensures a one-way street to the DOM in case it's <select {value}>
+						// and not <select bind:value>. We need it in addition to $.init_select
+						// because the select value is not reflected as an attribute, so the
+						// mutation observer wouldn't notice.
+						b.call('$.select_option', node_id, value)
+					])
+				: synthetic
+					? assignment
+					: set_value_assignment
+		);
+	};
 
 	if (has_state) {
 		const id = b.id(state.scope.generate(`${node_id.name}_value`));
@@ -752,12 +790,49 @@ function build_element_special_value_attribute(
 		const init = element === 'option' ? b.object([]) : undefined;
 
 		state.init.push(b.var(id, init));
-		state.update.push(b.if(b.binary('!==', id, b.assignment('=', id, value)), b.block([update])));
+
+		// the guard already evaluated `value` into `id`, so read that back rather than
+		// evaluating the same expression (and its signal reads) a second time
+		state.update.push(
+			b.if(b.binary('!==', id, b.assignment('=', id, value)), b.block([build_update(id)]))
+		);
 	} else {
-		state.init.push(update);
+		state.init.push(build_update(value));
 	}
+}
 
-	if (is_select_with_value) {
-		state.init.push(b.stmt(b.call('$.init_select', node_id)));
+/**
+ * `<p>{text}</p>` and friends produce `var x = $.child(p, true); $.reset(p);`. That pair is
+ * by far the most common shape in compiled output, and `$.only_child` does both, so fold the
+ * two together when the `$.child(...)` is the last thing we emitted for this element.
+ * @param {Statement[]} init
+ * @param {Expression} node_id
+ * @returns {boolean} whether the reset was folded in
+ */
+function fold_reset_into_child(init, node_id) {
+	const last = init.at(-1);
+
+	if (
+		node_id?.type !== 'Identifier' ||
+		last?.type !== 'VariableDeclaration' ||
+		last.declarations.length !== 1
+	) {
+		return false;
+	}
+
+	const call = last.declarations[0].init;
+
+	if (
+		call?.type !== 'CallExpression' ||
+		call.callee.type !== 'Identifier' ||
+		call.callee.name !== '$.child' ||
+		call.arguments[0]?.type !== 'Identifier' ||
+		call.arguments[0].name !== node_id.name
+	) {
+		return false;
 	}
+
+	call.callee = b.id('$.only_child');
+
+	return true;
 }
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/SvelteElement.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/SvelteElement.js
index 10024298fa..909b4e0b71 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/SvelteElement.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/SvelteElement.js
@@ -4,6 +4,7 @@
 import { dev, locator } from '../../../../state.js';
 import { is_text_attribute } from '../../../../utils/ast.js';
 import * as b from '#compiler/builders';
+import { async_thunk } from '../utils.js';
 import { determine_namespace_for_children } from '../../utils.js';
 import {
 	build_attribute_value,
@@ -147,7 +148,7 @@ export function SvelteElement(node, context) {
 					'$.async',
 					context.state.node,
 					node.metadata.expression.blockers(),
-					has_await ? b.array([b.thunk(expression, true)]) : b.void0,
+					has_await ? b.array([async_thunk(expression, node.metadata.expression)]) : b.void0,
 					b.arrow(
 						has_await ? [context.state.node, b.id('$$tag')] : [context.state.node],
 						b.block(statements)
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/VariableDeclaration.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/VariableDeclaration.js
index b9f4690179..246feaccf6 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/VariableDeclaration.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/VariableDeclaration.js
@@ -6,7 +6,13 @@ import { extract_paths, save } from '../../../../utils/ast.js';
 import * as b from '#compiler/builders';
 import * as assert from '../../../../utils/assert.js';
 import { get_rune } from '../../../scope.js';
-import { get_prop_source, is_prop_source, is_state_source, should_proxy } from '../utils.js';
+import {
+	async_thunk,
+	get_prop_source,
+	is_prop_source,
+	is_state_source,
+	should_proxy
+} from '../utils.js';
 import { get_value } from './shared/declarations.js';
 
 /**
@@ -200,9 +206,10 @@ export function VariableDeclaration(node, context) {
 			}
 
 			if (rune === '$derived' || rune === '$derived.by') {
-				const is_async = context.state.analysis.async_deriveds.has(
+				const metadata = context.state.analysis.async_deriveds.get(
 					/** @type {CallExpression} */ (init)
 				);
+				const is_async = metadata !== undefined;
 
 				if (declarator.id.type === 'Identifier') {
 					let expression = /** @type {Expression} */ (context.visit(value));
@@ -213,7 +220,7 @@ export function VariableDeclaration(node, context) {
 						/** @type {Expression} */
 						let call = b.call(
 							'$.async_derived',
-							b.thunk(expression, true),
+							async_thunk(expression, metadata),
 							dev && b.literal(declarator.id.name),
 							location ? b.literal(location) : undefined
 						);
@@ -246,7 +253,7 @@ export function VariableDeclaration(node, context) {
 
 							call = b.call(
 								'$.async_derived',
-								b.thunk(expression, true),
+								async_thunk(expression, metadata),
 								dev &&
 									b.literal(
 										`[$derived ${declarator.id.type === 'ArrayPattern' ? 'iterable' : 'object'}]`
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/element.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/element.js
index 063f8b0231..332e1d791a 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/element.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/element.js
@@ -30,6 +30,7 @@ export function build_attribute_effect(
 ) {
 	/** @type {ObjectExpression['properties']} */
 	const values = [];
+	const is_select = element.type === 'RegularElement' && element.name === 'select';
 
 	const memoizer = new Memoizer();
 
@@ -48,7 +49,11 @@ export function build_attribute_effect(
 				context.state.init.push(b.var(id, value));
 				values.push(b.init(attribute.name, b.id(id)));
 			} else {
-				values.push(b.init(attribute.name, value));
+				const name =
+					is_select && normalize_attribute(attribute.name) === 'defaultValue'
+						? 'defaultValue'
+						: attribute.name;
+				values.push(b.init(name, value));
 			}
 		} else {
 			let value = /** @type {Expression} */ (context.visit(attribute));
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/fragment.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/fragment.js
index c57d10bd35..6d921453c6 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/fragment.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/fragment.js
@@ -167,7 +167,7 @@ export function is_static_element(node) {
 		}
 
 		if (
-			['input', 'textarea'].includes(node.name) &&
+			['input', 'textarea', 'select'].includes(node.name) &&
 			['value', 'checked'].includes(attribute.name)
 		) {
 			return false;
@@ -177,11 +177,6 @@ export function is_static_element(node) {
 			return false;
 		}
 
-		// We need to apply src and loading after appending the img to the DOM for lazy loading to work
-		if (node.name === 'img' && attribute.name === 'loading') {
-			return false;
-		}
-
 		if (attribute.value !== true && !is_text_attribute(attribute)) {
 			return false;
 		}
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
index c305d53ea5..64ae573984 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
@@ -8,7 +8,7 @@ import { sanitize_template_string } from '../../../../../utils/sanitize_template
 import { regex_is_valid_identifier } from '../../../../patterns.js';
 import is_reference from 'is-reference';
 import { dev, is_ignored, locator, component_name } from '../../../../../state.js';
-import { build_getter, is_state_source } from '../../utils.js';
+import { async_thunk, build_getter, is_state_source } from '../../utils.js';
 import { ExpressionMetadata } from '../../../../nodes.js';
 
 /**
@@ -16,10 +16,10 @@ import { ExpressionMetadata } from '../../../../nodes.js';
  * from templates and replacing them with `$0`, `$1` etc
  */
 export class Memoizer {
-	/** @type {Array<{ id: Identifier, expression: Expression }>} */
+	/** @type {Array<{ id: Identifier, expression: Expression, metadata: ExpressionMetadata }>} */
 	#sync = [];
 
-	/** @type {Array<{ id: Identifier, expression: Expression }>} */
+	/** @type {Array<{ id: Identifier, expression: Expression, metadata: ExpressionMetadata }>} */
 	#async = [];
 
 	/** @type {Set<Expression>} */
@@ -43,7 +43,7 @@ export class Memoizer {
 
 		const id = b.id('#'); // filled in later
 
-		(metadata.has_await ? this.#async : this.#sync).push({ id, expression });
+		(metadata.has_await ? this.#async : this.#sync).push({ id, expression, metadata });
 
 		return id;
 	}
@@ -84,7 +84,7 @@ export class Memoizer {
 		if (this.#async.length === 0) return;
 		// use `b.arrow` rather than `b.thunk` so that deferred async/template effects
 		// always read live bindings rather than a possibly stale snapshot.
-		return b.array(this.#async.map((memo) => b.arrow([], memo.expression, true)));
+		return b.array(this.#async.map((memo) => async_thunk(memo.expression, memo.metadata)));
 	}
 
 	sync_values() {
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/AssignmentExpression.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/AssignmentExpression.js
index e6a1a86aa8..d555b6bb1d 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/AssignmentExpression.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/AssignmentExpression.js
@@ -110,7 +110,7 @@ function build_assignment(operator, left, right, context) {
 			context.visit(build_assignment_value(operator, left, right))
 		);
 
-		return b.call(binding.node, value);
+		return b.call(object, value);
 	}
 
 	return null;
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/DeclarationTag.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/DeclarationTag.js
index 8338700c0b..3fbff7167b 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/DeclarationTag.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/DeclarationTag.js
@@ -66,7 +66,7 @@ export function add_async_declaration(context, metadata, ids, assignments, kind
 		context.state.init.push(kind === 'var' ? b.var(id.name) : b.let(id.name));
 	}
 
-	const blockers = [...metadata.expression.dependencies]
+	const blockers = [...metadata.expression.references]
 		.map((dep) => dep.blocker)
 		.filter((b) => b !== null && b.object !== context.state.async_consts?.id);
 
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/EachBlock.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/EachBlock.js
index cb5a61d52f..923c4dd394 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/EachBlock.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/EachBlock.js
@@ -2,7 +2,13 @@
 /** @import { AST } from '#compiler' */
 /** @import { ComponentContext } from '../types.js' */
 import * as b from '#compiler/builders';
-import { block_close, block_open, block_open_else, create_child_block } from './shared/utils.js';
+import {
+	block_close,
+	block_open,
+	block_open_else,
+	create_child_block,
+	prepend_block_marker
+} from './shared/utils.js';
 
 /**
  * @param {AST.EachBlock} node
@@ -51,7 +57,7 @@ export function EachBlock(node, context) {
 
 		const fallback = /** @type {BlockStatement} */ (context.visit(node.fallback));
 
-		fallback.body.unshift(b.stmt(b.call(b.id('$$renderer.push'), block_open_else)));
+		prepend_block_marker(fallback, /** @type {string} */ (block_open_else.value));
 
 		statements.push(
 			b.if(
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/IfBlock.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/IfBlock.js
index 2d1a22605c..ea636e2064 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/IfBlock.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/IfBlock.js
@@ -2,7 +2,7 @@
 /** @import { AST } from '#compiler' */
 /** @import { ComponentContext } from '../types.js' */
 import * as b from '#compiler/builders';
-import { block_close, create_child_block } from './shared/utils.js';
+import { block_close, create_child_block, prepend_block_marker } from './shared/utils.js';
 
 /**
  * @param {AST.IfBlock} node
@@ -10,7 +10,7 @@ import { block_close, create_child_block } from './shared/utils.js';
  */
 export function IfBlock(node, context) {
 	const consequent = /** @type {BlockStatement} */ (context.visit(node.consequent));
-	consequent.body.unshift(b.stmt(b.call(b.id('$$renderer.push'), b.literal(`<!--[0-->`))));
+	prepend_block_marker(consequent, `<!--[0-->`);
 
 	/** @type {IfStatement} */
 	let if_statement = b.if(/** @type {Expression} */ (context.visit(node.test)), consequent);
@@ -22,7 +22,7 @@ export function IfBlock(node, context) {
 	// Walk the else-if chain, flattening branches
 	for (const elseif of node.metadata.flattened ?? []) {
 		const branch = /** @type {BlockStatement} */ (context.visit(elseif.consequent));
-		branch.body.unshift(b.stmt(b.call(b.id('$$renderer.push'), b.literal(`<!--[${index++}-->`))));
+		prepend_block_marker(branch, `<!--[${index++}-->`);
 
 		current_if = current_if.alternate = b.if(
 			/** @type {Expression} */ (context.visit(elseif.test)),
@@ -34,7 +34,7 @@ export function IfBlock(node, context) {
 	// Handle final else (or remaining async chain)
 	const final_alternate = alt ? /** @type {BlockStatement} */ (context.visit(alt)) : b.block([]);
 
-	final_alternate.body.unshift(b.stmt(b.call(b.id('$$renderer.push'), b.literal(`<!--[-1-->`))));
+	prepend_block_marker(final_alternate, `<!--[-1-->`);
 	current_if.alternate = final_alternate;
 
 	context.state.template.push(
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js
index fdf0d22b1c..f36a6aecb0 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js
@@ -46,7 +46,7 @@ export function RegularElement(node, context) {
 		node.attributes.some(
 			(attribute) =>
 				((attribute.type === 'Attribute' || attribute.type === 'BindDirective') &&
-					attribute.name === 'value') ||
+					(attribute.name === 'value' || attribute.name.toLowerCase() === 'defaultvalue')) ||
 				attribute.type === 'SpreadAttribute'
 		);
 	const is_option_special = name === 'option';
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js
index 6440510b01..b4f4facb5d 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js
@@ -306,12 +306,14 @@ function get_attribute_name(element, attribute) {
  * @param {(expression: Expression, metadata: ExpressionMetadata) => Expression} transform
  */
 export function build_spread_object(element, attributes, context, transform) {
+	const is_select = element.type === 'RegularElement' && element.name === 'select';
 	const object = b.object(
 		attributes.map((attribute) => {
 			if (attribute.type === 'transformed') {
 				return b.prop('init', b.key(attribute.name), attribute.expression);
 			} else if (attribute.type === 'Attribute') {
-				const name = get_attribute_name(element, attribute);
+				let name = get_attribute_name(element, attribute);
+				if (is_select && name === 'defaultvalue') name = 'defaultValue';
 				const value = build_attribute_value(
 					attribute.value,
 					context,
@@ -322,10 +324,9 @@ export function build_spread_object(element, attributes, context, transform) {
 				return b.prop('init', b.key(name), value);
 			} else if (attribute.type === 'BindDirective') {
 				const name = get_attribute_name(element, attribute);
+				const expression = /** @type {Expression} */ (context.visit(attribute.expression));
 				const value =
-					attribute.expression.type === 'SequenceExpression'
-						? b.call(attribute.expression.expressions[0])
-						: /** @type {Expression} */ (context.visit(attribute.expression));
+					expression.type === 'SequenceExpression' ? b.call(expression.expressions[0]) : expression;
 
 				return b.prop('init', b.key(name), value);
 			}
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
index 28d2d762f9..f38ae6164c 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
@@ -180,6 +180,36 @@ export function build_template(template) {
 	return statements;
 }
 
+/**
+ * Prepends a hydration marker (e.g. `<!--[0-->`) to a branch. The branch has already been
+ * turned into statements by `build_template`, so if it happens to start with a static
+ * `$$renderer.push(...)` we fold the marker into that call rather than emitting a second one.
+ * @param {BlockStatement} block
+ * @param {string} marker
+ */
+export function prepend_block_marker(block, marker) {
+	const first = block.body[0];
+
+	if (
+		first?.type === 'ExpressionStatement' &&
+		first.expression.type === 'CallExpression' &&
+		first.expression.callee.type === 'Identifier' &&
+		first.expression.callee.name === '$$renderer.push' &&
+		first.expression.arguments.length === 1 &&
+		first.expression.arguments[0].type === 'TemplateLiteral'
+	) {
+		const quasi = first.expression.arguments[0].quasis[0];
+
+		// markers never contain characters that need escaping in a template literal
+		quasi.value.cooked = marker + quasi.value.cooked;
+		quasi.value.raw = marker + quasi.value.raw;
+
+		return;
+	}
+
+	block.body.unshift(b.stmt(b.call(b.id('$$renderer.push'), b.literal(marker))));
+}
+
 /**
  *
  * @param {AST.Attribute['value']} value
diff --git a/packages/svelte/src/compiler/phases/nodes.js b/packages/svelte/src/compiler/phases/nodes.js
index da7e73015b..fea447a7c5 100644
--- a/packages/svelte/src/compiler/phases/nodes.js
+++ b/packages/svelte/src/compiler/phases/nodes.js
@@ -77,6 +77,9 @@ export class ExpressionMetadata {
 	/** True if the expression contains `await` */
 	has_await = false;
 
+	/** True if an `await` restores the reaction context afterwards, so the thunk must end it */
+	has_pickled_await = false;
+
 	/** True if the expression includes a member expression */
 	has_member_expression = false;
 
@@ -142,6 +145,7 @@ export class ExpressionMetadata {
 		this.has_state ||= source.has_state;
 		this.has_call ||= source.has_call;
 		this.has_await ||= source.has_await;
+		this.has_pickled_await ||= source.has_pickled_await;
 		this.has_member_expression ||= source.has_member_expression;
 		this.has_assignment ||= source.has_assignment;
 		this.#blockers = null; // so that blockers are recalculated
diff --git a/packages/svelte/src/compiler/phases/types.d.ts b/packages/svelte/src/compiler/phases/types.d.ts
index a1a85ce145..38fa80ac4b 100644
--- a/packages/svelte/src/compiler/phases/types.d.ts
+++ b/packages/svelte/src/compiler/phases/types.d.ts
@@ -63,7 +63,7 @@ export interface Analysis {
 	accessors: boolean;
 
 	/** A set of deriveds that contain `await` expressions */
-	async_deriveds: Set<CallExpression>;
+	async_deriveds: Map<CallExpression, ExpressionMetadata>;
 	/** Awaits needing context preservation */
 	pickled_awaits: Set<AwaitExpression>;
 }
diff --git a/packages/svelte/src/internal/client/dom/blocks/boundary.js b/packages/svelte/src/internal/client/dom/blocks/boundary.js
index e14f79ac35..a9665f6c1a 100644
--- a/packages/svelte/src/internal/client/dom/blocks/boundary.js
+++ b/packages/svelte/src/internal/client/dom/blocks/boundary.js
@@ -1,14 +1,8 @@
 /** @import { Effect, Source, TemplateNode, } from '#client' */
-import {
-	BOUNDARY_EFFECT,
-	DIRTY,
-	EFFECT_PRESERVED,
-	EFFECT_TRANSPARENT,
-	MAYBE_DIRTY
-} from '#client/constants';
+import { BOUNDARY_EFFECT, EFFECT_PRESERVED, EFFECT_TRANSPARENT } from '#client/constants';
 import { HYDRATION_START_ELSE, HYDRATION_START_FAILED } from '../../../../constants.js';
 import { component_context, set_component_context } from '../../context.js';
-import { handle_error, invoke_error_boundary } from '../../error-handling.js';
+import { invoke_error_boundary } from '../../error-handling.js';
 import {
 	block,
 	branch,
@@ -285,13 +279,31 @@ export class Boundary {
 
 			var fragment = (this.#offscreen_fragment = create_fragment());
 			var anchor = create_text();
+			var handled = false;
 
 			append_child(fragment, anchor);
 
 			this.#main_effect = this.#run(() => {
-				return branch(() => this.#children(anchor));
+				try {
+					return branch(() => this.#children(anchor));
+				} catch (error) {
+					try {
+						this.error(error);
+						handled = true;
+					} catch (error) {
+						invoke_error_boundary(error, this.#effect.parent);
+					}
+
+					return null;
+				}
 			});
 
+			if (this.#main_effect === null) {
+				this.#offscreen_fragment = null;
+				if (handled) this.#resolve(/** @type {Batch} */ (current_batch));
+				return;
+			}
+
 			if (this.#pending_count === 0) {
 				insert_before(this.#anchor, fragment);
 				this.#offscreen_fragment = null;
@@ -380,9 +392,6 @@ export class Boundary {
 		try {
 			Batch.ensure();
 			return fn();
-		} catch (e) {
-			handle_error(e);
-			return null;
 		} finally {
 			set_active_effect(previous_effect);
 			set_active_reaction(previous_reaction);
diff --git a/packages/svelte/src/internal/client/dom/blocks/slot.js b/packages/svelte/src/internal/client/dom/blocks/slot.js
index 10b2959582..491f04a5ea 100644
--- a/packages/svelte/src/internal/client/dom/blocks/slot.js
+++ b/packages/svelte/src/internal/client/dom/blocks/slot.js
@@ -1,4 +1,6 @@
 import { hydrate_next, hydrating } from '../hydration.js';
+import { create_element, create_text } from '../operations.js';
+import { append } from '../template.js';
 
 /**
  * @param {Comment} anchor
@@ -12,6 +14,23 @@ export function slot(anchor, $$props, name, slot_props, fallback_fn) {
 		hydrate_next();
 	}
 
+	// Custom element slots are native DOM slots.
+	// Use the stored reference because the shadow root may be closed.
+	if ($$props.$$host?.$$shadowRoot) {
+		const element = create_element('slot');
+		if (name !== 'default') element.name = name;
+
+		append(anchor, element);
+
+		if (fallback_fn !== null) {
+			const fallback_anchor = create_text();
+			element.append(fallback_anchor);
+			fallback_fn(fallback_anchor);
+		}
+
+		return;
+	}
+
 	var slot_fn = $$props.$$slots?.[name];
 	// Interop: Can use snippets to fill slots
 	var is_interop = false;
diff --git a/packages/svelte/src/internal/client/dom/elements/attributes.js b/packages/svelte/src/internal/client/dom/elements/attributes.js
index b9508ff4b2..6e77dee026 100644
--- a/packages/svelte/src/internal/client/dom/elements/attributes.js
+++ b/packages/svelte/src/internal/client/dom/elements/attributes.js
@@ -26,7 +26,12 @@ import { set_class } from './class.js';
 import { set_style } from './style.js';
 import { ATTACHMENT_KEY, NAMESPACE_HTML, UNINITIALIZED } from '../../../../constants.js';
 import { branch, destroy_effect, effect, managed } from '../../reactivity/effects.js';
-import { init_select, select_option } from './bindings/select.js';
+import {
+	init_select,
+	select_option,
+	set_default_select_value,
+	set_selected
+} from './bindings/select.js';
 import { flatten } from '../../reactivity/async.js';
 import {
 	has_attribute,
@@ -135,25 +140,6 @@ export function set_checked(element, checked) {
 	set_element_checked(element, checked);
 }
 
-/**
- * Sets the `selected` attribute on an `option` element.
- * Not set through the property because that doesn't reflect to the DOM,
- * which means it wouldn't be taken into account when a form is reset.
- * @param {HTMLOptionElement} element
- * @param {boolean} selected
- */
-export function set_selected(element, selected) {
-	if (selected) {
-		// The selected option could've changed via user selection, and
-		// setting the value without this check would set it back.
-		if (!has_attribute(element, 'selected')) {
-			set_attribute_op(element, 'selected', '');
-		}
-	} else {
-		remove_attribute(element, 'selected');
-	}
-}
-
 /**
  * Applies the default checked property without influencing the current checked property.
  * @param {HTMLInputElement} element
@@ -210,7 +196,7 @@ export function set_attribute(element, attribute, value, skip_warning) {
 
 	if (value == null) {
 		remove_attribute(element, attribute);
-	} else if (typeof value !== 'string' && get_setters(element).includes(attribute)) {
+	} else if (typeof value !== 'string' && get_setters(element).has(attribute)) {
 		// @ts-ignore
 		element[attribute] = value;
 	} else {
@@ -263,7 +249,7 @@ export function set_custom_element_data(node, prop, value) {
 			// customElements may not be available in browser extension contexts
 			!customElements ||
 			customElements.get(get_attribute(node, 'is') || (node_name(node) ?? '').toLowerCase())
-				? get_setters(node).includes(prop)
+				? get_setters(node).has(prop)
 				: value && typeof value === 'object')
 		) {
 			// @ts-expect-error
@@ -302,11 +288,8 @@ function set_attributes(
 	skip_warning = false
 ) {
 	if (hydrating && should_remove_defaults && node_name(element) === INPUT_TAG) {
-		var input = /** @type {HTMLInputElement} */ (element);
-		var attribute = input.type === 'checkbox' ? 'defaultChecked' : 'defaultValue';
-
-		if (!(attribute in next)) {
-			remove_input_defaults(input);
+		if (!('defaultValue' in next || 'defaultChecked' in next)) {
+			remove_input_defaults(/** @type {HTMLInputElement} */ (element));
 		}
 	}
 
@@ -324,6 +307,7 @@ function set_attributes(
 
 	var current = prev || {};
 	var is_option_element = node_name(element) === OPTION_TAG;
+	var is_select_element = node_name(element) === SELECT_TAG;
 
 	for (var key in prev) {
 		// don't null our internal $$onX listeners
@@ -477,6 +461,9 @@ function set_attributes(
 
 			var is_default = name === 'defaultValue' || name === 'defaultChecked';
 
+			// A select's default value is represented by selected options, not a property.
+			if (is_select_element && name === 'defaultValue') continue;
+
 			if (value == null && !is_custom_element && !is_default) {
 				attributes[key] = null;
 				if ((name === 'value' || name === 'checked') && current_renderer == null) {
@@ -514,7 +501,7 @@ function set_attributes(
 				if (name in attributes) attributes[name] = UNINITIALIZED;
 			} else if (
 				is_default ||
-				(setters.includes(name) && (is_custom_element || typeof value !== 'string'))
+				((is_custom_element || typeof value !== 'string') && setters.has(name))
 			) {
 				// @ts-ignore
 				element[name] = value;
@@ -575,8 +562,16 @@ export function attribute_effect(
 				skip_warning
 			);
 
-			if (inited && is_select && 'value' in next) {
-				select_option(/** @type {HTMLSelectElement} */ (element), next.value);
+			if (inited && is_select) {
+				var select = /** @type {HTMLSelectElement} */ (element);
+
+				if ('defaultValue' in next) {
+					set_default_select_value(select, next.defaultValue);
+				}
+
+				if ('value' in next) {
+					select_option(select, next.value);
+				}
 			}
 
 			for (let symbol of Object.getOwnPropertySymbols(effects)) {
@@ -601,7 +596,13 @@ export function attribute_effect(
 			var select = /** @type {HTMLSelectElement} */ (element);
 
 			effect(() => {
-				select_option(select, /** @type {Record<string | symbol, any>} */ (prev).value, true);
+				var attrs = /** @type {Record<string | symbol, any>} */ (prev);
+
+				if ('defaultValue' in attrs) {
+					set_default_select_value(select, attrs.defaultValue);
+				}
+
+				select_option(select, attrs.value, true);
 				init_select(select);
 			});
 		}
@@ -623,7 +624,7 @@ function get_attributes(element) {
 	);
 }
 
-/** @type {Map<string, string[]>} */
+/** @type {Map<string, Set<string>>} */
 var setters_cache = new Map();
 
 /** @param {Element} element */
@@ -633,7 +634,7 @@ function get_setters(element) {
 	var cache_key = get_attribute(element, 'is') || (node_name(element) ?? '');
 	var setters = setters_cache.get(cache_key);
 	if (setters) return setters;
-	setters_cache.set(cache_key, (setters = []));
+	setters_cache.set(cache_key, (setters = new Set()));
 
 	var descriptors;
 	var proto = element; // In the case of custom elements there might be setters on the instance
@@ -652,7 +653,7 @@ function get_setters(element) {
 				key !== 'textContent' &&
 				key !== 'innerText'
 			) {
-				setters.push(key);
+				setters.add(key);
 			}
 		}
 
diff --git a/packages/svelte/src/internal/client/dom/elements/bindings/select.js b/packages/svelte/src/internal/client/dom/elements/bindings/select.js
index a408613104..cac7531ed2 100644
--- a/packages/svelte/src/internal/client/dom/elements/bindings/select.js
+++ b/packages/svelte/src/internal/client/dom/elements/bindings/select.js
@@ -6,6 +6,71 @@ import * as w from '../../../warnings.js';
 import { Batch, current_batch, previous_batch } from '../../../reactivity/batch.js';
 import { async_mode_flag } from '../../../../flags/index.js';
 
+/**
+ * Sets the `selected` attribute on an option so form reset can restore it.
+ * @param {HTMLOptionElement} option
+ * @param {boolean} selected
+ */
+export function set_selected(option, selected) {
+	if (selected) {
+		if (!option.hasAttribute('selected')) option.setAttribute('selected', '');
+	} else {
+		option.removeAttribute('selected');
+	}
+}
+
+/**
+ * Sets the options a form reset should restore. The first call selects
+ * them if nothing has set a value, later calls leave the current selection alone.
+ * @param {HTMLSelectElement} select
+ * @param {any} value
+ */
+export function set_default_select_value(select, value) {
+	var mounting = !('__defaultValue' in select);
+	// @ts-expect-error
+	if (!mounting && select.__defaultValue === value) return;
+	// @ts-expect-error
+	select.__defaultValue = value;
+	apply_default_select_value(select, !mounting || '__value' in select);
+}
+
+/**
+ * Marks the options matching `__defaultValue` as selected. Without `preserve`
+ * a newly matching option gets selected, as an inserted `<option selected>` would.
+ * @param {HTMLSelectElement} select
+ * @param {boolean} preserve
+ */
+function apply_default_select_value(select, preserve) {
+	// @ts-expect-error
+	var value = select.__defaultValue;
+	var multiple = select.multiple;
+	var values = multiple ? value ?? [] : null;
+
+	if (multiple && !is_array(values)) return;
+
+	var index = select.selectedIndex;
+	var selected = preserve && multiple ? new Set(select.selectedOptions) : null;
+
+	for (var option of select.options) {
+		var option_value = get_option_value(option);
+		set_selected(
+			option,
+			multiple ? /** @type {any[]} */ (values).includes(option_value) : is(option_value, value)
+		);
+	}
+
+	if (!preserve) return;
+
+	if (selected !== null) {
+		for (option of select.options) {
+			var was_selected = selected.has(option);
+			if (option.selected !== was_selected) option.selected = was_selected;
+		}
+	} else if (select.selectedIndex !== index) {
+		select.selectedIndex = index;
+	}
+}
+
 /**
  * Selects the correct option(s) (depending on whether this is a multiple select)
  * @template V
@@ -47,11 +112,10 @@ export function select_option(select, value, mounting = false) {
 }
 
 /**
- * Selects the correct option(s) if `value` is given,
- * and then sets up a mutation observer to sync the
- * current selection to the dom when it changes. Such
- * changes could for example occur when options are
- * inside an `#each` block.
+ * Sets up a mutation observer to sync the current selection
+ * and default to the dom when the options change, for example
+ * when they are inside an `#each` block. Called once per `<select>`,
+ * by the compiled output or by `attribute_effect` for spreads.
  * @param {HTMLSelectElement} select
  */
 export function init_select(select) {
@@ -60,9 +124,15 @@ export function init_select(select) {
 		// Reacting to them could revert a user-initiated selection change, because the
 		// records are delivered as soon as any listener returns (e.g. a delegated `input`
 		// handler), which can happen before the `change` handler has updated `__value`
-		if (entries.every(is_selectedcontent_mutation) || !('__value' in select)) return;
-		// @ts-ignore
-		select_option(select, select.__value);
+		if (entries.every(is_selectedcontent_mutation)) return;
+
+		if ('__defaultValue' in select) {
+			apply_default_select_value(select, false);
+		}
+
+		if ('__value' in select) {
+			select_option(select, select.__value);
+		}
 		// Deliberately don't update the potential binding value,
 		// the model should be preserved unless explicitly changed
 	});
@@ -154,8 +224,6 @@ export function bind_select_value(select, get, set = get) {
 		select.__value = value;
 		mounting = false;
 	});
-
-	init_select(select);
 }
 
 /** @param {HTMLOptionElement} option */
diff --git a/packages/svelte/src/internal/client/dom/elements/transitions.js b/packages/svelte/src/internal/client/dom/elements/transitions.js
index 7c4d385807..67b177841a 100644
--- a/packages/svelte/src/internal/client/dom/elements/transitions.js
+++ b/packages/svelte/src/internal/client/dom/elements/transitions.js
@@ -337,6 +337,7 @@ export function transition(flags, element, get_fn, get_params) {
  */
 function animate(element, options, counterpart, t2, on_begin, on_finish) {
 	var is_intro = t2 === 1;
+	var aborted = false;
 
 	if (is_function(options)) {
 		// In the case of a deferred transition (such as `crossfade`), `option` will be
@@ -344,7 +345,6 @@ function animate(element, options, counterpart, t2, on_begin, on_finish) {
 		// once the DOM has been updated...
 		/** @type {Animation} */
 		var a;
-		var aborted = false;
 
 		queue_micro_task(() => {
 			if (aborted) return;
@@ -381,99 +381,112 @@ function animate(element, options, counterpart, t2, on_begin, on_finish) {
 
 	const { delay = 0, css, tick, easing = linear } = options;
 
-	var keyframes = [];
+	/** @type {globalThis.Animation} */
+	var animation;
 
-	if (is_intro && counterpart === undefined) {
-		if (tick) {
-			tick(0, 1); // TODO put in nested effect, to avoid interleaved reads/writes?
-		}
+	var get_t = () => 1 - t2;
 
-		if (css) {
-			var styles = css_to_keyframe(css(0, 1));
-			keyframes.push(styles, styles);
-		}
-	}
+	// wait a microtask before applying the initial styles and creating the dummy animation,
+	// so that transitions created in the same batch (e.g. on nested elements) all measure
+	// the DOM first (#18421). this still happens before the next paint, so the element
+	// won't be rendered without styles applied (#14732)
+	queue_micro_task(() => {
+		if (aborted) return;
 
-	var get_t = () => 1 - t2;
+		var keyframes = [];
 
-	// create a dummy animation that lasts as long as the delay (but with whatever devtools
-	// multiplier is in effect). in the common case that it is `0`, we keep it anyway so that
-	// the CSS keyframes aren't created until the DOM is updated
-	//
-	// fill forwards to prevent the element from rendering without styles applied
-	// see https://github.com/sveltejs/svelte/issues/14732
-	var animation = element.animate(keyframes, { duration: delay, fill: 'forwards' });
+		if (is_intro && counterpart === undefined) {
+			if (tick) {
+				tick(0, 1); // TODO put in nested effect, to avoid interleaved reads/writes?
+			}
 
-	animation.onfinish = () => {
-		// remove dummy animation from the stack to prevent conflict with main animation
-		animation.cancel();
+			if (css) {
+				var styles = css_to_keyframe(css(0, 1));
+				keyframes.push(styles, styles);
+			}
+		}
 
-		on_begin();
+		// create a dummy animation that lasts as long as the delay (but with whatever devtools
+		// multiplier is in effect). in the common case that it is `0`, we keep it anyway so that
+		// the CSS keyframes aren't created until the DOM is updated
+		//
+		// fill forwards to prevent the element from rendering without styles applied
+		// see https://github.com/sveltejs/svelte/issues/14732
+		animation = element.animate(keyframes, { duration: delay, fill: 'forwards' });
 
-		// for bidirectional transitions, we start from the current position,
-		// rather than doing a full intro/outro
-		var t1 = counterpart?.t() ?? 1 - t2;
-		counterpart?.abort();
+		animation.onfinish = () => {
+			// remove dummy animation from the stack to prevent conflict with main animation
+			animation.cancel();
 
-		var delta = t2 - t1;
-		var duration = /** @type {number} */ (options.duration) * Math.abs(delta);
-		var keyframes = [];
+			on_begin();
 
-		if (duration > 0) {
-			/**
-			 * Whether or not the CSS includes `overflow: hidden`, in which case we need to
-			 * add it as an inline style to work around a Safari <18 bug
-			 * TODO 6.0 remove this, if possible
-			 */
-			var needs_overflow_hidden = false;
+			// for bidirectional transitions, we start from the current position,
+			// rather than doing a full intro/outro
+			var t1 = counterpart?.t() ?? 1 - t2;
+			counterpart?.abort();
 
-			if (css) {
-				var n = Math.ceil(duration / (1000 / 60)); // `n` must be an integer, or we risk missing the `t2` value
+			var delta = t2 - t1;
+			var duration = /** @type {number} */ (options.duration) * Math.abs(delta);
+			var keyframes = [];
+
+			if (duration > 0) {
+				/**
+				 * Whether or not the CSS includes `overflow: hidden`, in which case we need to
+				 * add it as an inline style to work around a Safari <18 bug
+				 * TODO 6.0 remove this, if possible
+				 */
+				var needs_overflow_hidden = false;
 
-				for (var i = 0; i <= n; i += 1) {
-					var t = t1 + delta * easing(i / n);
-					var styles = css_to_keyframe(css(t, 1 - t));
-					keyframes.push(styles);
+				if (css) {
+					var n = Math.ceil(duration / (1000 / 60)); // `n` must be an integer, or we risk missing the `t2` value
 
-					needs_overflow_hidden ||= styles.overflow === 'hidden';
+					for (var i = 0; i <= n; i += 1) {
+						var t = t1 + delta * easing(i / n);
+						var styles = css_to_keyframe(css(t, 1 - t));
+						keyframes.push(styles);
+
+						needs_overflow_hidden ||= styles.overflow === 'hidden';
+					}
 				}
-			}
 
-			if (needs_overflow_hidden) {
-				/** @type {HTMLElement} */ (element).style.overflow = 'hidden';
-			}
+				if (needs_overflow_hidden) {
+					/** @type {HTMLElement} */ (element).style.overflow = 'hidden';
+				}
 
-			get_t = () => {
-				var time = /** @type {number} */ (
-					/** @type {globalThis.Animation} */ (animation).currentTime
-				);
+				get_t = () => {
+					var time = /** @type {number} */ (
+						/** @type {globalThis.Animation} */ (animation).currentTime
+					);
 
-				return t1 + delta * easing(time / duration);
-			};
+					return t1 + delta * easing(time / duration);
+				};
 
-			if (tick) {
-				loop(() => {
-					if (animation.playState !== 'running') return false;
+				if (tick) {
+					loop(() => {
+						if (animation.playState !== 'running') return false;
 
-					var t = get_t();
-					tick(t, 1 - t);
+						var t = get_t();
+						tick(t, 1 - t);
 
-					return true;
-				});
+						return true;
+					});
+				}
 			}
-		}
 
-		animation = element.animate(keyframes, { duration, fill: 'forwards' });
+			animation = element.animate(keyframes, { duration, fill: 'forwards' });
 
-		animation.onfinish = () => {
-			get_t = () => t2;
-			tick?.(t2, 1 - t2);
-			on_finish();
+			animation.onfinish = () => {
+				get_t = () => t2;
+				tick?.(t2, 1 - t2);
+				on_finish();
+			};
 		};
-	};
+	});
 
 	return {
 		abort: () => {
+			aborted = true;
+
 			if (animation) {
 				animation.cancel();
 				// This prevents memory leaks in Chromium
diff --git a/packages/svelte/src/internal/client/dom/operations.js b/packages/svelte/src/internal/client/dom/operations.js
index 84bffe2bf9..b6d28598e3 100644
--- a/packages/svelte/src/internal/client/dom/operations.js
+++ b/packages/svelte/src/internal/client/dom/operations.js
@@ -1,5 +1,5 @@
 /** @import { Effect, TemplateNode } from '#client' */
-import { hydrate_node, hydrating, set_hydrate_node } from './hydration.js';
+import { hydrate_node, hydrating, reset, set_hydrate_node } from './hydration.js';
 import { DEV } from 'esm-env';
 import { init_array_prototype_warnings } from '../dev/equality.js';
 import { get_descriptor, is_extensible } from '../../shared/utils.js';
@@ -173,6 +173,26 @@ export function first_child(node, is_text = false) {
 	return hydrate_node;
 }
 
+/**
+ * `child`, for the very common case of an element with exactly one child. Resetting the
+ * hydration cursor is part of the same step, so the compiler doesn't have to emit a
+ * separate `reset` call for every `<p>{text}</p>` in an app.
+ * Don't mark this as side-effect-free, hydration needs to walk all nodes
+ * @param {TemplateNode} node
+ * @param {boolean} [is_text]
+ * @returns {TemplateNode | null}
+ */
+export function only_child(node, is_text = false) {
+	if (!hydrating) {
+		return get_first_child(node);
+	}
+
+	var first = child(node, is_text);
+	reset(node);
+
+	return first;
+}
+
 /**
  * Don't mark this as side-effect-free, hydration needs to walk all nodes
  * @param {TemplateNode} node
diff --git a/packages/svelte/src/internal/client/index.js b/packages/svelte/src/internal/client/index.js
index f52235dfc3..f6676aff97 100644
--- a/packages/svelte/src/internal/client/index.js
+++ b/packages/svelte/src/internal/client/index.js
@@ -38,7 +38,6 @@ export {
 	set_xlink_attribute,
 	set_value,
 	set_checked,
-	set_selected,
 	set_default_checked,
 	set_default_value,
 	CLASS,
@@ -67,7 +66,13 @@ export {
 } from './dom/elements/bindings/media.js';
 export { bind_online } from './dom/elements/bindings/navigator.js';
 export { bind_prop } from './dom/elements/bindings/props.js';
-export { bind_select_value, init_select, select_option } from './dom/elements/bindings/select.js';
+export {
+	bind_select_value,
+	init_select,
+	select_option,
+	set_selected,
+	set_default_select_value
+} from './dom/elements/bindings/select.js';
 export { bind_element_size, bind_resize_observer } from './dom/elements/bindings/size.js';
 export { bind_this } from './dom/elements/bindings/this.js';
 export {
@@ -108,6 +113,7 @@ export {
 	run,
 	save,
 	track_reactivity_loss,
+	unsave,
 	run_after_blockers,
 	wait
 } from './reactivity/async.js';
@@ -168,6 +174,7 @@ export { proxy } from './proxy.js';
 export { create_custom_element } from './dom/elements/custom-element.js';
 export {
 	child,
+	only_child,
 	first_child,
 	sibling,
 	$window as window,
diff --git a/packages/svelte/src/internal/client/reactivity/async.js b/packages/svelte/src/internal/client/reactivity/async.js
index 91afbee853..bc0a9c6247 100644
--- a/packages/svelte/src/internal/client/reactivity/async.js
+++ b/packages/svelte/src/internal/client/reactivity/async.js
@@ -8,7 +8,6 @@ import {
 	set_component_context,
 	set_dev_stack
 } from '../context.js';
-import { Boundary } from '../dom/blocks/boundary.js';
 import { current_renderer, set_renderer } from '../custom-renderer/state.js';
 import { invoke_error_boundary } from '../error-handling.js';
 import {
@@ -26,7 +25,6 @@ import {
 	set_reactivity_loss_tracker
 } from './deriveds.js';
 import { aborted } from './effects.js';
-import { queue_micro_task } from '../dom/task.js';
 
 /**
  * @param {Blocker[]} blockers
@@ -160,6 +158,9 @@ export function capture() {
 	};
 }
 
+/** `true` between a `save` thunk restoring a context and the end of that synchronous segment */
+var restored = false;
+
 /**
  * Wraps an `await` expression in such a way that the effect context that was
  * active before the expression evaluated can be reapplied afterwards —
@@ -170,15 +171,32 @@ export function capture() {
  */
 export async function save(promise) {
 	var restore = capture();
+	// the context restored by an earlier `save` in this expression must not
+	// outlive the synchronous segment that is about to end at this `await`
+	unsave();
 	var value = await promise;
 
 	return () => {
 		restore();
-		queue_micro_task(unset_context);
+		restored = true;
 		return value;
 	};
 }
 
+/**
+ * Unset the context if a `save` thunk restored it in the current synchronous segment,
+ * so that a foreign microtask can never run inside a restored reaction context.
+ * Called at every suspension point, and at the end of async expression bodies —
+ * `async () => (await $.save(a))().b` becomes `async () => { try { return (await $.save(a))().b; } finally { $.unsave(); } }`
+ * @template T
+ * @param {T} [value]
+ * @returns {T}
+ */
+export function unsave(value) {
+	if (restored) unset_context();
+	return /** @type {T} */ (value);
+}
+
 /**
  * Reset `current_async_effect` after the `promise` resolves, so
  * that we can emit `await_reactivity_loss` warnings
@@ -187,6 +205,7 @@ export async function save(promise) {
  * @returns {Promise<() => T>}
  */
 export async function track_reactivity_loss(promise) {
+	unsave();
 	var previous_reactivity_loss_tracker = reactivity_loss_tracker;
 	// Ensure that unrelated reads after an async operation is kicked off don't cause false positives
 	queueMicrotask(() => {
@@ -273,6 +292,7 @@ export async function* for_await_track_reactivity_loss(iterable) {
 }
 
 export function unset_context(deactivate_batch = true) {
+	restored = false;
 	set_active_effect(null);
 	set_active_reaction(null);
 	set_component_context(null);
diff --git a/packages/svelte/src/internal/client/runtime.js b/packages/svelte/src/internal/client/runtime.js
index 8ce7640cf3..2fe476411d 100644
--- a/packages/svelte/src/internal/client/runtime.js
+++ b/packages/svelte/src/internal/client/runtime.js
@@ -259,37 +259,7 @@ export function update_reaction(reaction) {
 		var fn = /** @type {Function} */ (reaction.fn);
 		var result = fn();
 		reaction.f |= REACTION_RAN;
-		var deps = reaction.deps;
-
-		// Don't remove reactions during fork;
-		// they must remain for when fork is discarded
-		var is_fork = current_batch?.is_fork;
-
-		if (new_deps !== null) {
-			var i;
-
-			if (!is_fork) {
-				remove_reactions(reaction, skipped_deps);
-			}
-
-			if (deps !== null && skipped_deps > 0) {
-				deps.length = skipped_deps + new_deps.length;
-				for (i = 0; i < new_deps.length; i++) {
-					deps[skipped_deps + i] = new_deps[i];
-				}
-			} else {
-				reaction.deps = deps = new_deps;
-			}
-
-			if (effect_tracking() && (reaction.f & CONNECTED) !== 0) {
-				for (i = skipped_deps; i < deps.length; i++) {
-					(deps[i].reactions ??= []).push(reaction);
-				}
-			}
-		} else if (!is_fork && deps !== null && skipped_deps < deps.length) {
-			remove_reactions(reaction, skipped_deps);
-			deps.length = skipped_deps;
-		}
+		var deps = update_dependencies(reaction);
 
 		// If we're inside an effect and we have untracked writes, then we need to
 		// ensure that if any of those untracked writes result in re-invalidation
@@ -301,7 +271,7 @@ export function update_reaction(reaction) {
 			deps !== null &&
 			(reaction.f & (DERIVED | MAYBE_DIRTY | DIRTY)) === 0
 		) {
-			for (i = 0; i < /** @type {Source[]} */ (untracked_writes).length; i++) {
+			for (var i = 0; i < /** @type {Source[]} */ (untracked_writes).length; i++) {
 				schedule_possible_effect_self_invalidation(
 					untracked_writes[i],
 					/** @type {Effect} */ (reaction)
@@ -345,6 +315,9 @@ export function update_reaction(reaction) {
 
 		return result;
 	} catch (error) {
+		// still commit the deps read before the throw, otherwise deriveds connected by this run keep no reader and the reaction never re-runs when they change
+		update_dependencies(reaction);
+
 		return handle_error(error);
 	} finally {
 		reaction.f ^= REACTION_IS_UPDATING;
@@ -359,6 +332,45 @@ export function update_reaction(reaction) {
 	}
 }
 
+/**
+ * @param {Reaction} reaction
+ */
+function update_dependencies(reaction) {
+	var deps = reaction.deps;
+
+	// Don't remove reactions during fork;
+	// they must remain for when fork is discarded
+	var is_fork = current_batch?.is_fork;
+
+	if (new_deps !== null) {
+		var i;
+
+		if (!is_fork) {
+			remove_reactions(reaction, skipped_deps);
+		}
+
+		if (deps !== null && skipped_deps > 0) {
+			deps.length = skipped_deps + new_deps.length;
+			for (i = 0; i < new_deps.length; i++) {
+				deps[skipped_deps + i] = new_deps[i];
+			}
+		} else {
+			reaction.deps = deps = new_deps;
+		}
+
+		if (effect_tracking() && (reaction.f & CONNECTED) !== 0) {
+			for (i = skipped_deps; i < deps.length; i++) {
+				(deps[i].reactions ??= []).push(reaction);
+			}
+		}
+	} else if (!is_fork && deps !== null && skipped_deps < deps.length) {
+		remove_reactions(reaction, skipped_deps);
+		deps.length = skipped_deps;
+	}
+
+	return deps;
+}
+
 /**
  * @template V
  * @param {Reaction} signal
diff --git a/packages/svelte/src/internal/server/renderer.js b/packages/svelte/src/internal/server/renderer.js
index 1a5199d18e..a30c302693 100644
--- a/packages/svelte/src/internal/server/renderer.js
+++ b/packages/svelte/src/internal/server/renderer.js
@@ -13,7 +13,7 @@ import { attributes } from './index.js';
 import { get_render_context, with_render_context, init_render_context } from './render-context.js';
 import { sha256 } from './crypto.js';
 import * as devalue from 'devalue';
-import { has_own_property, noop } from '../shared/utils.js';
+import { has_own_property, is_array, noop } from '../shared/utils.js';
 import { escape_html } from '../../escaping.js';
 
 /** @typedef {'head' | 'body'} RendererType */
@@ -89,7 +89,7 @@ export class Renderer {
 	 * State that is local to the branch it is declared in.
 	 * It will be shallow-copied to all children.
 	 *
-	 * @type {{ select_value: string | undefined }}
+	 * @type {{ select_value: any, multiple: boolean }}
 	 */
 	local;
 
@@ -101,7 +101,7 @@ export class Renderer {
 		this.#parent = parent;
 
 		this.global = global;
-		this.local = parent ? { ...parent.local } : { select_value: undefined };
+		this.local = parent ? { ...parent.local } : { select_value: undefined, multiple: false };
 		this.type = parent ? parent.type : 'body';
 	}
 
@@ -338,11 +338,13 @@ export class Renderer {
 	 * @returns {void}
 	 */
 	select(attrs, fn, css_hash, classes, styles, flags, is_rich) {
-		const { value, ...select_attrs } = attrs;
+		const { value, defaultValue, ...select_attrs } = attrs;
+		if (select_attrs.multiple === '') select_attrs.multiple = true;
 
 		this.push(`<select${attributes(select_attrs, css_hash, classes, styles, flags)}>`);
 		this.child((renderer) => {
-			renderer.local.select_value = value;
+			renderer.local.select_value = value === undefined ? defaultValue : value;
+			renderer.local.multiple = !!select_attrs.multiple;
 			fn(renderer);
 		});
 		this.push(`${is_rich ? '<!>' : ''}</select>`);
@@ -370,7 +372,15 @@ export class Renderer {
 				value = attrs.value;
 			}
 
-			if (value === this.local.select_value) {
+			var select_value = this.local.select_value;
+
+			if (
+				// Super edge-case, but theoretically someone could use arrays with non-multiple selects,
+				// so we gotta check for the multiple attribute presence, too.
+				this.local.multiple && is_array(select_value)
+					? select_value.includes(value)
+					: value === select_value
+			) {
 				renderer.#out.push(' selected=""');
 			}
 
diff --git a/packages/svelte/src/internal/shared/attributes.js b/packages/svelte/src/internal/shared/attributes.js
index bb1abf22c1..68994bf85e 100644
--- a/packages/svelte/src/internal/shared/attributes.js
+++ b/packages/svelte/src/internal/shared/attributes.js
@@ -27,7 +27,8 @@ export function attr(name, value, is_boolean = false) {
 	if (name === 'hidden' && value !== 'until-found') {
 		is_boolean = true;
 	}
-	if (value == null || (!value && is_boolean)) return '';
+	// `''` is a present boolean attribute, as it is in markup and on the client
+	if (value == null || (is_boolean && !value && value !== '')) return '';
 	const normalized =
 		(has_own_property.call(replacements, name) && replacements[name].get(value)) || value;
 	const assignment = is_boolean ? `=""` : `="${escape_html(normalized, true)}"`;
diff --git a/packages/svelte/src/reactivity/url.js b/packages/svelte/src/reactivity/url.js
index 549a20baa7..1e24e774ee 100644
--- a/packages/svelte/src/reactivity/url.js
+++ b/packages/svelte/src/reactivity/url.js
@@ -163,6 +163,8 @@ export class SvelteURL extends URL {
 	set protocol(value) {
 		super.protocol = value;
 		set(this.#protocol, super.protocol);
+		// changing the protocol can clear the port when it matches the new scheme's default
+		set(this.#port, super.port);
 	}
 
 	get search() {
diff --git a/packages/svelte/src/reactivity/url.test.ts b/packages/svelte/src/reactivity/url.test.ts
index d698116421..72518d730a 100644
--- a/packages/svelte/src/reactivity/url.test.ts
+++ b/packages/svelte/src/reactivity/url.test.ts
@@ -240,3 +240,25 @@ test('url.searchParams.forEach re-runs when the search string changes via the UR
 
 	cleanup();
 });
+
+test('url.port is updated when the protocol change clears the port', () => {
+	const url = new SvelteURL('http://example.com:443/');
+	const log: any = [];
+
+	const cleanup = effect_root(() => {
+		render_effect(() => {
+			log.push(url.port);
+		});
+	});
+
+	flushSync(() => {
+		// 443 is the default port for https, so it gets stripped
+		url.protocol = 'https:';
+	});
+
+	assert.equal(url.port, '');
+	assert.equal(url.href, 'https://example.com/');
+	assert.deepEqual(log, ['443', '']);
+
+	cleanup();
+});
diff --git a/packages/svelte/tests/compiler-errors/samples/runes-export-let-derived/_config.js b/packages/svelte/tests/compiler-errors/samples/runes-export-let-derived/_config.js
new file mode 100644
index 0000000000..852f56ebcc
--- /dev/null
+++ b/packages/svelte/tests/compiler-errors/samples/runes-export-let-derived/_config.js
@@ -0,0 +1,9 @@
+import { test } from '../../test';
+
+export default test({
+	error: {
+		code: 'derived_invalid_export',
+		message:
+			'Cannot export derived state from a module. To expose the current derived value, export a function returning its value'
+	}
+});
diff --git a/packages/svelte/tests/compiler-errors/samples/runes-export-let-derived/main.svelte b/packages/svelte/tests/compiler-errors/samples/runes-export-let-derived/main.svelte
new file mode 100644
index 0000000000..512caf75f8
--- /dev/null
+++ b/packages/svelte/tests/compiler-errors/samples/runes-export-let-derived/main.svelte
@@ -0,0 +1,4 @@
+<script>
+	let count = $state(0);
+	export let double = $derived(count * 2);
+</script>
diff --git a/packages/svelte/tests/css/samples/snippet-exported/_config.js b/packages/svelte/tests/css/samples/snippet-exported/_config.js
new file mode 100644
index 0000000000..30953854ad
--- /dev/null
+++ b/packages/svelte/tests/css/samples/snippet-exported/_config.js
@@ -0,0 +1,5 @@
+import { test } from '../../test';
+
+export default test({
+	hasGlobal: true
+});
diff --git a/packages/svelte/tests/css/samples/snippet-exported/expected.css b/packages/svelte/tests/css/samples/snippet-exported/expected.css
new file mode 100644
index 0000000000..65d0c35e7c
--- /dev/null
+++ b/packages/svelte/tests/css/samples/snippet-exported/expected.css
@@ -0,0 +1,4 @@
+
+	.inner.svelte-xyz {
+		color: red;
+	}
diff --git a/packages/svelte/tests/css/samples/snippet-exported/input.svelte b/packages/svelte/tests/css/samples/snippet-exported/input.svelte
new file mode 100644
index 0000000000..3aef144e26
--- /dev/null
+++ b/packages/svelte/tests/css/samples/snippet-exported/input.svelte
@@ -0,0 +1,13 @@
+<script module>
+	export { outer };
+</script>
+
+{#snippet outer()}
+	<p class="inner"></p>
+{/snippet}
+
+<style>
+	.inner {
+		color: red;
+	}
+</style>
diff --git a/packages/svelte/tests/parser-legacy/samples/convert-entities-line-feed/input.svelte b/packages/svelte/tests/parser-legacy/samples/convert-entities-line-feed/input.svelte
new file mode 100644
index 0000000000..3ce2c605d6
--- /dev/null
+++ b/packages/svelte/tests/parser-legacy/samples/convert-entities-line-feed/input.svelte
@@ -0,0 +1 @@
+<p title="A&#x0A;B">A&#x0A;B</p>
diff --git a/packages/svelte/tests/parser-legacy/samples/convert-entities-line-feed/output.json b/packages/svelte/tests/parser-legacy/samples/convert-entities-line-feed/output.json
new file mode 100644
index 0000000000..5d1127ccdc
--- /dev/null
+++ b/packages/svelte/tests/parser-legacy/samples/convert-entities-line-feed/output.json
@@ -0,0 +1,53 @@
+{
+	"html": {
+		"type": "Fragment",
+		"start": 0,
+		"end": 32,
+		"children": [
+			{
+				"type": "Element",
+				"start": 0,
+				"end": 32,
+				"name": "p",
+				"attributes": [
+					{
+						"type": "Attribute",
+						"start": 3,
+						"end": 19,
+						"name": "title",
+						"name_loc": {
+							"start": {
+								"line": 1,
+								"column": 3,
+								"character": 3
+							},
+							"end": {
+								"line": 1,
+								"column": 8,
+								"character": 8
+							}
+						},
+						"value": [
+							{
+								"start": 10,
+								"end": 18,
+								"type": "Text",
+								"raw": "A&#x0A;B",
+								"data": "A\nB"
+							}
+						]
+					}
+				],
+				"children": [
+					{
+						"type": "Text",
+						"start": 20,
+						"end": 28,
+						"raw": "A&#x0A;B",
+						"data": "A B"
+					}
+				]
+			}
+		]
+	}
+}
diff --git a/packages/svelte/tests/runtime-browser/custom-elements-samples/$$slot-dynamic-content/_config.js b/packages/svelte/tests/runtime-browser/custom-elements-samples/$$slot-dynamic-content/_config.js
index 8ade347a79..3fd5a09888 100644
--- a/packages/svelte/tests/runtime-browser/custom-elements-samples/$$slot-dynamic-content/_config.js
+++ b/packages/svelte/tests/runtime-browser/custom-elements-samples/$$slot-dynamic-content/_config.js
@@ -14,8 +14,8 @@ export default test({
 		assert.htmlEqual(
 			ce.shadowRoot.innerHTML,
 			`
-		<slot></slot>
-		<p>named fallback</p>
+		<slot>fallback</slot>
+		<slot name="named"><p>named fallback</p></slot>
 	`
 		);
 
@@ -23,8 +23,8 @@ export default test({
 		assert.htmlEqual(
 			ce.shadowRoot.innerHTML,
 			`
-		<slot></slot>
-		<p>named fallback</p>
+		<slot>fallback</slot>
+		<slot name="named"><p>named fallback</p></slot>
 	`
 		);
 	}
diff --git a/packages/svelte/tests/runtime-browser/custom-elements-samples/html-slots/_config.js b/packages/svelte/tests/runtime-browser/custom-elements-samples/html-slots/_config.js
index 287e2987b8..e3e8ce072b 100644
--- a/packages/svelte/tests/runtime-browser/custom-elements-samples/html-slots/_config.js
+++ b/packages/svelte/tests/runtime-browser/custom-elements-samples/html-slots/_config.js
@@ -3,10 +3,7 @@ const tick = () => Promise.resolve();
 
 export default test({
 	async test({ assert, target }) {
-		target.innerHTML = `
-		<custom-element>
-			<strong>slotted</strong>
-		</custom-element>`;
+		target.innerHTML = '<custom-element></custom-element>';
 		await tick();
 		await tick();
 
@@ -16,7 +13,26 @@ export default test({
 		const div = el.shadowRoot.children[0];
 		const [slot0, slot1] = div.children;
 
-		assert.equal(slot0.assignedNodes()[1], target.querySelector('strong'));
-		assert.equal(slot1.innerHTML, 'foo fallback content');
+		assert.equal(slot0.localName, 'slot');
+		assert.equal(slot0.assignedNodes().length, 0);
+		assert.equal(slot0.innerHTML, '<p>default fallback content</p>');
+		assert.equal(slot1.localName, 'slot');
+		assert.equal(slot1.name, 'foo');
+		assert.equal(slot1.assignedNodes().length, 0);
+		assert.equal(slot1.innerHTML, '<p>foo fallback content</p>');
+
+		const default_content = document.createElement('strong');
+		default_content.textContent = 'default content';
+		el.append(default_content);
+
+		const named_content = document.createElement('strong');
+		named_content.slot = 'foo';
+		named_content.textContent = 'named content';
+		el.append(named_content);
+
+		assert.equal(slot0.assignedNodes().length, 1);
+		assert.equal(slot0.assignedNodes()[0], default_content);
+		assert.equal(slot1.assignedNodes().length, 1);
+		assert.equal(slot1.assignedNodes()[0], named_content);
 	}
 });
diff --git a/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/_config.js b/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/_config.js
index cd8550120a..e83491418a 100644
--- a/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/_config.js
+++ b/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/_config.js
@@ -3,7 +3,7 @@ const tick = () => Promise.resolve();
 
 export default test({
 	async test({ assert, target }) {
-		target.innerHTML = '<custom-element name="world"></custom-element>';
+		target.innerHTML = '<custom-element name="world"><span>slotted</span></custom-element>';
 		await tick();
 		await tick();
 
@@ -15,5 +15,6 @@ export default test({
 		assert.equal(el.shadowRoot, null);
 		assert.equal(h1.innerHTML, 'Hello world!');
 		assert.equal(getComputedStyle(h1).color, 'rgb(255, 0, 0)');
+		assert.equal(el.querySelector('slot').innerHTML, '');
 	}
 });
diff --git a/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/main.svelte b/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/main.svelte
index 36fea3c43e..1c14fb98d8 100644
--- a/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/main.svelte
+++ b/packages/svelte/tests/runtime-browser/custom-elements-samples/no-shadow-dom/main.svelte
@@ -5,6 +5,7 @@
 </script>
 
 <h1>Hello {name}!</h1>
+<slot>fallback</slot>
 
 <style>
 	h1 {
diff --git a/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/Nested.svelte b/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/Nested.svelte
new file mode 100644
index 0000000000..eeb325059f
--- /dev/null
+++ b/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/Nested.svelte
@@ -0,0 +1,14 @@
+<script>
+	import Nested from './Nested.svelte';
+	import { slide } from 'svelte/transition';
+
+	let { depth } = $props();
+</script>
+
+<div class="level-{depth}" in:slide|global={{ duration: 100 }}>
+	{#if depth > 0}
+		<Nested depth={depth - 1} />
+	{:else}
+		<div style="height: 100px">leaf</div>
+	{/if}
+</div>
diff --git a/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/_config.js b/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/_config.js
new file mode 100644
index 0000000000..00e5cb02a2
--- /dev/null
+++ b/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/_config.js
@@ -0,0 +1,36 @@
+import { test } from '../../assert';
+
+export default test({
+	async test({ assert, target }) {
+		const button = target.querySelector('button');
+		button?.click();
+
+		// wait for the transition's keyframes to be created
+		const animation = await new Promise((resolve, reject) => {
+			const start = performance.now();
+
+			function check() {
+				const outer = target.querySelector('.level-2');
+				const animation = outer
+					?.getAnimations()
+					.find((a) => a.effect?.getTiming().duration === 100);
+
+				if (animation) {
+					resolve(animation);
+				} else if (performance.now() - start > 2000) {
+					reject(new Error('timed out waiting for the transition to start'));
+				} else {
+					requestAnimationFrame(check);
+				}
+			}
+
+			check();
+		});
+
+		// the outermost `slide` must have measured the element with its
+		// descendants at their natural size, not collapsed to zero by their
+		// own starting styles (#18421)
+		const keyframes = animation.effect?.getKeyframes() ?? [];
+		assert.equal(keyframes[keyframes.length - 1].height, '100px');
+	}
+});
diff --git a/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/main.svelte b/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/main.svelte
new file mode 100644
index 0000000000..a64a0cd2f4
--- /dev/null
+++ b/packages/svelte/tests/runtime-browser/samples/transition-nested-measure/main.svelte
@@ -0,0 +1,11 @@
+<script>
+	import Nested from './Nested.svelte';
+
+	let visible = $state(false);
+</script>
+
+<button onclick={() => (visible = !visible)}>toggle</button>
+
+{#if visible}
+	<Nested depth={2} />
+{/if}
diff --git a/packages/svelte/tests/runtime-legacy/samples/binding-select-multiple/_config.js b/packages/svelte/tests/runtime-legacy/samples/binding-select-multiple/_config.js
index 42c0e018e5..d7c1b8d339 100644
--- a/packages/svelte/tests/runtime-legacy/samples/binding-select-multiple/_config.js
+++ b/packages/svelte/tests/runtime-legacy/samples/binding-select-multiple/_config.js
@@ -6,17 +6,30 @@ export default test({
 		return { selected: ['two', 'three'] };
 	},
 
-	html: `
+	ssrHtml: `
 		<select multiple>
 			<option>one</option>
-			<option>two</option>
-			<option>three</option>
+			<option selected>two</option>
+			<option selected>three</option>
 		</select>
 
 		<p>selected: two, three</p>
 	`,
 
-	test({ assert, component, target, window }) {
+	test({ assert, component, target, window, variant }) {
+		const selected = variant === 'hydrate' ? ' selected' : '';
+		assert.htmlEqual(
+			target.innerHTML,
+			`
+			<select multiple>
+				<option>one</option>
+				<option${selected}>two</option>
+				<option${selected}>three</option>
+			</select>
+
+			<p>selected: two, three</p>
+		`
+		);
 		const select = target.querySelector('select');
 		ok(select);
 		const options = [...target.querySelectorAll('option')];
@@ -33,8 +46,8 @@ export default test({
 			`
 			<select multiple>
 				<option>one</option>
-				<option>two</option>
-				<option>three</option>
+				<option${selected}>two</option>
+				<option${selected}>three</option>
 			</select>
 
 			<p>selected: three</p>
@@ -51,8 +64,8 @@ export default test({
 			`
 			<select multiple>
 				<option>one</option>
-				<option>two</option>
-				<option>three</option>
+				<option${selected}>two</option>
+				<option${selected}>three</option>
 			</select>
 
 			<p>selected: one, three</p>
@@ -70,8 +83,8 @@ export default test({
 			`
 			<select multiple>
 				<option>one</option>
-				<option>two</option>
-				<option>three</option>
+				<option${selected}>two</option>
+				<option${selected}>three</option>
 			</select>
 
 			<p>selected: one, two</p>
diff --git a/packages/svelte/tests/runtime-legacy/samples/html-entities/_config.js b/packages/svelte/tests/runtime-legacy/samples/html-entities/_config.js
index add763989e..82c87495c4 100644
--- a/packages/svelte/tests/runtime-legacy/samples/html-entities/_config.js
+++ b/packages/svelte/tests/runtime-legacy/samples/html-entities/_config.js
@@ -7,6 +7,7 @@ export default test({
 		<span>*</span>
 		<span>*</span>
 		<span>*</span>
+		<span>*</span>
 
 		<span></span>
 		<span>A</span>
diff --git a/packages/svelte/tests/runtime-legacy/samples/html-entities/main.svelte b/packages/svelte/tests/runtime-legacy/samples/html-entities/main.svelte
index 2d0d66c939..25a60cb930 100644
--- a/packages/svelte/tests/runtime-legacy/samples/html-entities/main.svelte
+++ b/packages/svelte/tests/runtime-legacy/samples/html-entities/main.svelte
@@ -2,6 +2,7 @@
 <span>&midast;</span>
 <span>&#x0002A;</span>
 <span>&#x0002A</span>
+<span>&#X0002A;</span>
 <span>&#42;</span>
 
 <span>&#10;</span>
diff --git a/packages/svelte/tests/runtime-legacy/shared.ts b/packages/svelte/tests/runtime-legacy/shared.ts
index 0b3a94cb37..b89b4a93e1 100644
--- a/packages/svelte/tests/runtime-legacy/shared.ts
+++ b/packages/svelte/tests/runtime-legacy/shared.ts
@@ -177,11 +177,11 @@ export function runtime_suite(runes: boolean) {
 		['dom', 'hydrate', 'ssr', 'async-ssr'],
 		(variant, config, test_name) => {
 			if (!async_mode && (config.skip_no_async || test_name.startsWith('async-'))) {
-				return true;
+				return 'no-test';
 			}
 
 			if (async_mode && config.skip_async) {
-				return true;
+				return 'no-test';
 			}
 
 			if (variant === 'hydrate') {
@@ -195,9 +195,9 @@ export function runtime_suite(runes: boolean) {
 			) {
 				return 'no-test';
 			}
-
 			if (variant === 'ssr') {
 				if (
+					(test_name.startsWith('async-') && !config.mode?.includes('server')) ||
 					(config.mode && !config.mode.includes('server')) ||
 					(!config.test_ssr &&
 						config.html === undefined &&
diff --git a/packages/svelte/tests/runtime-runes/samples/async-const-closure-read/_config.js b/packages/svelte/tests/runtime-runes/samples/async-const-closure-read/_config.js
new file mode 100644
index 0000000000..be0e3c7f40
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-const-closure-read/_config.js
@@ -0,0 +1,10 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+// #18469 — a @const in a nested snippet reading an async declaration through a closure must block on it
+export default test({
+	async test({ assert, target }) {
+		await tick();
+		assert.htmlEqual(target.innerHTML, '<p>true</p> <p>false</p>');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-const-closure-read/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-const-closure-read/main.svelte
new file mode 100644
index 0000000000..881455ec27
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-const-closure-read/main.svelte
@@ -0,0 +1,12 @@
+<script>
+	async function getValue() {
+		return new Set(['a', 'b', 'c']);
+	}
+
+	const value = await getValue();
+</script>
+
+{#each [['a', 'b'], ['a', 'x']] as keys}
+	{@const all_present = keys.every((k) => value.has(k))}
+	<p>{all_present}</p>
+{/each}
diff --git a/packages/svelte/tests/runtime-runes/samples/async-declaration-closure-read/_config.js b/packages/svelte/tests/runtime-runes/samples/async-declaration-closure-read/_config.js
new file mode 100644
index 0000000000..6a10f6928a
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-declaration-closure-read/_config.js
@@ -0,0 +1,11 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+// #18469 — a sync $derived in a nested snippet reading an async declaration through a closure must block on it
+export default test({
+	ssrHtml: '<p>true</p> <p>false</p>',
+	async test({ assert, target }) {
+		await tick();
+		assert.htmlEqual(target.innerHTML, '<p>true</p> <p>false</p>');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-declaration-closure-read/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-declaration-closure-read/main.svelte
new file mode 100644
index 0000000000..ddd9a10b04
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-declaration-closure-read/main.svelte
@@ -0,0 +1,17 @@
+<script>
+	async function getValue() {
+		return new Set(['a', 'b', 'c']);
+	}
+</script>
+
+{#snippet outer()}
+	{const value = $derived(await getValue())}
+	{#snippet inner(keys)}
+		{const all_present = $derived(keys.every((k) => value.has(k)))}
+		<p>{all_present}</p>
+	{/snippet}
+	{@render inner(['a', 'b'])}
+	{@render inner(['a', 'x'])}
+{/snippet}
+
+{@render outer()}
diff --git a/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/Child.svelte b/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/Child.svelte
new file mode 100644
index 0000000000..a49033a8cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/Child.svelte
@@ -0,0 +1,7 @@
+<script>
+	const { environment } = $props();
+
+	if (environment === 'client') {
+		throw new Error('oops');
+	}
+</script>
diff --git a/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/_config.js b/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/_config.js
new file mode 100644
index 0000000000..29e470e46f
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/_config.js
@@ -0,0 +1,14 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['hydrate'],
+	server_props: { environment: 'server' },
+	props: { environment: 'client' },
+	ssrHtml: 'loading inner loading nested',
+
+	async test({ assert, target }) {
+		await tick();
+		assert.htmlEqual(target.innerHTML, 'inner failed: oops outer failed: oops');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/main.svelte
new file mode 100644
index 0000000000..16a54630d0
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-error-boundary-5/main.svelte
@@ -0,0 +1,24 @@
+<script>
+	import Child from './Child.svelte';
+
+	const { environment } = $props();
+</script>
+
+<svelte:boundary>
+	<Child {environment} />
+	{await new Promise(() => {})}
+
+	{#snippet pending()}loading inner{/snippet}
+	{#snippet failed(error)}inner failed: {error.message}{/snippet}
+</svelte:boundary>
+
+<svelte:boundary>
+	<svelte:boundary>
+		<Child {environment} />
+		{await new Promise(() => {})}
+
+		{#snippet pending()}loading nested{/snippet}
+	</svelte:boundary>
+
+	{#snippet failed(error)}outer failed: {error.message}{/snippet}
+</svelte:boundary>
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-await-block-pending/_config.js b/packages/svelte/tests/runtime-runes/samples/async-save-await-block-pending/_config.js
new file mode 100644
index 0000000000..9608e294e7
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-await-block-pending/_config.js
@@ -0,0 +1,20 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		dev: true
+	},
+
+	async test({ assert, target, errors }) {
+		await new Promise((resolve) => setTimeout(resolve, 20));
+		await tick();
+
+		assert.deepEqual(
+			errors.filter((error) => error.includes('state_unsafe_mutation')),
+			[]
+		);
+		assert.htmlEqual(target.innerHTML, '<p>pending</p><p>1</p>');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-await-block-pending/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-save-await-block-pending/main.svelte
new file mode 100644
index 0000000000..3545c69451
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-await-block-pending/main.svelte
@@ -0,0 +1,14 @@
+<script>
+	let foreign = $state(0);
+	const input = Promise.resolve({ pending: new Promise(() => {}) });
+
+	setTimeout(() => {
+		foreign += 1;
+	});
+</script>
+
+{#await (await input).pending}
+	<p>pending</p>
+{/await}
+
+<p>{foreign}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation-prod/_config.js b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation-prod/_config.js
new file mode 100644
index 0000000000..050ee60e09
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation-prod/_config.js
@@ -0,0 +1,22 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+
+	compileOptions: {
+		dev: false
+	},
+
+	async test({ assert, target, errors }) {
+		await tick();
+		await tick();
+		await tick();
+
+		assert.deepEqual(
+			errors.filter((error) => error.includes('state_unsafe_mutation')),
+			[]
+		);
+		assert.htmlEqual(target.innerHTML, '<p>4 1</p>');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation-prod/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation-prod/main.svelte
new file mode 100644
index 0000000000..ef69eb1154
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation-prod/main.svelte
@@ -0,0 +1,20 @@
+<script>
+	let foreign = $state(0);
+
+	const items = Promise.resolve([1, 2, 3]);
+	const one = Promise.resolve(1);
+
+	// lands the write while the derived is suspended on `await one`, after the
+	// context restored for `.length` — in production that await has no dev hook
+	items.then(() => {
+		queueMicrotask(() => {
+			queueMicrotask(() => {
+				foreign += 1;
+			});
+		});
+	});
+
+	const total = $derived((await items).length + (await one));
+</script>
+
+<p>{total} {foreign}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation/_config.js b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation/_config.js
new file mode 100644
index 0000000000..371cca3ff3
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation/_config.js
@@ -0,0 +1,21 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+
+	compileOptions: {
+		dev: true
+	},
+
+	async test({ assert, target, errors }) {
+		await tick();
+		await tick();
+
+		assert.deepEqual(
+			errors.filter((error) => error.includes('state_unsafe_mutation')),
+			[]
+		);
+		assert.htmlEqual(target.innerHTML, '<p>3 1</p>');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation/main.svelte
new file mode 100644
index 0000000000..c85206e7f1
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-foreign-microtask-mutation/main.svelte
@@ -0,0 +1,21 @@
+<script>
+	let foreign = $state(0);
+
+	const items = Promise.resolve([1, 2, 3]);
+
+	// registered before the derived, so it runs first when `items` settles.
+	// Two nested microtasks land the write in the window between the compiled
+	// continuation restoring the derived's context and svelte's queued unset
+	items.then(() => {
+		queueMicrotask(() => {
+			queueMicrotask(() => {
+				foreign += 1;
+			});
+		});
+	});
+
+	// `.length` follows the await, so the compiler pickles it via `$.save`
+	const length = $derived((await items).length);
+</script>
+
+<p>{length} {foreign}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-throwing-expression/_config.js b/packages/svelte/tests/runtime-runes/samples/async-save-throwing-expression/_config.js
new file mode 100644
index 0000000000..5999daa5d2
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-throwing-expression/_config.js
@@ -0,0 +1,20 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		dev: true
+	},
+
+	async test({ assert, target, errors }) {
+		await tick();
+		await tick();
+
+		assert.deepEqual(
+			errors.filter((error) => error.includes('state_unsafe_mutation')),
+			[]
+		);
+		assert.htmlEqual(target.innerHTML, '<p>failed</p><p>1</p>');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-save-throwing-expression/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-save-throwing-expression/main.svelte
new file mode 100644
index 0000000000..e94bf86568
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-save-throwing-expression/main.svelte
@@ -0,0 +1,26 @@
+<script>
+	let foreign = $state(0);
+	const input = Promise.resolve({
+		get value() {
+			throw new Error('boom');
+		}
+	});
+
+	input.then(() => {
+		queueMicrotask(() => {
+			queueMicrotask(() => {
+				foreign += 1;
+			});
+		});
+	});
+</script>
+
+<svelte:boundary onerror={() => {}}>
+	{#snippet failed()}
+		<p>failed</p>
+	{/snippet}
+
+	<p>{(await input).value}</p>
+</svelte:boundary>
+
+<p>{foreign}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/derived-forward-ref-leading-comments/_config.js b/packages/svelte/tests/runtime-runes/samples/derived-forward-ref-leading-comments/_config.js
deleted file mode 100644
index 204581389d..0000000000
--- a/packages/svelte/tests/runtime-runes/samples/derived-forward-ref-leading-comments/_config.js
+++ /dev/null
@@ -1,6 +0,0 @@
-import { test } from '../../test';
-
-export default test({
-	ssrHtml: '<p>LATER</p> <input value="LATER">',
-	html: '<p>LATER</p> <input>'
-});
diff --git a/packages/svelte/tests/runtime-runes/samples/derived-leading-comments/_config.js b/packages/svelte/tests/runtime-runes/samples/derived-leading-comments/_config.js
new file mode 100644
index 0000000000..2048fbadf7
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/derived-leading-comments/_config.js
@@ -0,0 +1,6 @@
+import { test } from '../../test';
+
+export default test({
+	ssrHtml: '<p>y:y</p> <p>LATER</p> <input value="LATER">',
+	html: '<p>y:y</p> <p>LATER</p> <input>'
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/derived-forward-ref-leading-comments/main.svelte b/packages/svelte/tests/runtime-runes/samples/derived-leading-comments/main.svelte
similarity index 55%
rename from packages/svelte/tests/runtime-runes/samples/derived-forward-ref-leading-comments/main.svelte
rename to packages/svelte/tests/runtime-runes/samples/derived-leading-comments/main.svelte
index f9a1a1a6fb..0424d3fb15 100644
--- a/packages/svelte/tests/runtime-runes/samples/derived-forward-ref-leading-comments/main.svelte
+++ b/packages/svelte/tests/runtime-runes/samples/derived-leading-comments/main.svelte
@@ -1,4 +1,13 @@
 <script>
+	function write(value) {
+		return foo = value;
+	}
+
+	// a leading comment on the declaration
+	// that spans more than one line
+	let foo = $derived('x');
+	let bar = write('y');
+
 	const ctx = {
 		get later() {
 			return later;
@@ -10,5 +19,6 @@
 	let later = $derived.by(() => 'LATER');
 </script>
 
+<p>{foo}:{bar}</p>
 <p>{ctx.later}</p>
 <input bind:value={later} />
diff --git a/packages/svelte/tests/runtime-runes/samples/form-default-checked-radio-spread/_config.js b/packages/svelte/tests/runtime-runes/samples/form-default-checked-radio-spread/_config.js
new file mode 100644
index 0000000000..3f3134ee7a
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/form-default-checked-radio-spread/_config.js
@@ -0,0 +1,23 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['hydrate'],
+
+	async test({ assert, target }) {
+		const [a, b, reset] = target.querySelectorAll('input');
+
+		// let the deferred hydration cleanup run
+		await Promise.resolve();
+		flushSync();
+
+		b.checked = true;
+		reset.click();
+		await Promise.resolve();
+		flushSync();
+
+		assert.equal(a.defaultChecked, true);
+		assert.equal(a.checked, true);
+		assert.equal(b.checked, false);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/form-default-checked-radio-spread/main.svelte b/packages/svelte/tests/runtime-runes/samples/form-default-checked-radio-spread/main.svelte
new file mode 100644
index 0000000000..cb7ff0abd3
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/form-default-checked-radio-spread/main.svelte
@@ -0,0 +1,9 @@
+<script>
+	let spread = { defaultChecked: true, checked: true };
+</script>
+
+<form>
+	<input type="radio" name="option" value="a" {...spread} />
+	<input type="radio" name="option" value="b" />
+	<input type="reset" value="Reset" />
+</form>
diff --git a/packages/svelte/tests/runtime-runes/samples/form-default-value-select/_config.js b/packages/svelte/tests/runtime-runes/samples/form-default-value-select/_config.js
new file mode 100644
index 0000000000..784d20a0ce
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/form-default-value-select/_config.js
@@ -0,0 +1,96 @@
+import { test } from '../../test';
+import { flushSync } from 'svelte';
+
+export default test({
+	async test({ assert, target }) {
+		/** @param {HTMLSelectElement} select @param {boolean[]} expected */
+		function check(select, expected) {
+			assert.deepEqual(
+				[...select.options].map((option) => option.selected),
+				expected
+			);
+		}
+
+		/** @param {HTMLSelectElement} select @param {number[]} indexes */
+		function select(select, indexes) {
+			for (let i = 0; i < select.options.length; i++) {
+				select.options[i].selected = indexes.includes(i);
+			}
+			select.dispatchEvent(new Event('change', { bubbles: true }));
+		}
+
+		const selects = target.querySelectorAll('select');
+		const reset = /** @type {HTMLInputElement} */ (target.querySelector('input[type=reset]'));
+		/** @param {string} name */
+		const button = (name) => /** @type {HTMLButtonElement} */ (target.querySelector(`.${name}`));
+
+		check(selects[0], [false, true, false]);
+		check(selects[1], [false, false, true]);
+		check(selects[2], [false, true, false]);
+		check(selects[3], [true]);
+		check(selects[4], [false, true]);
+		check(selects[5], [false, true, false]);
+		check(selects[6], [true, false]);
+		check(selects[7], [true, false, true]);
+		check(selects[8], [false, false, true]);
+
+		select(selects[0], [2]);
+		select(selects[1], [0]);
+		select(selects[5], [2]);
+		select(selects[7], [1]);
+		flushSync();
+
+		reset.click();
+		await Promise.resolve();
+		flushSync();
+		check(selects[0], [false, true, false]);
+		check(selects[1], [false, true, false]);
+		check(selects[5], [false, true, false]);
+		check(selects[7], [true, false, true]);
+
+		select(selects[2], [2]);
+		select(selects[5], [2]);
+		button('update').click();
+		flushSync();
+		check(selects[2], [false, false, true]);
+		check(selects[5], [false, false, true]);
+		assert.deepEqual(
+			[...selects[5].options].map((option) => option.defaultSelected),
+			[true, false, false]
+		);
+
+		button('add').click();
+		flushSync();
+		await Promise.resolve();
+		check(selects[3], [false, true]);
+		assert.equal(selects[3].options[1].defaultSelected, true);
+
+		reset.click();
+		await Promise.resolve();
+		flushSync();
+		check(selects[0], [true, false, false]);
+		check(selects[2], [true, false, false]);
+		check(selects[3], [false, true]);
+		check(selects[5], [true, false, false]);
+
+		select(selects[5], [2]);
+		select(selects[7], [1]);
+		button('remove').click();
+		button('clear').click();
+		flushSync();
+		assert.equal(
+			[...selects[5].options].some((option) => option.defaultSelected),
+			false
+		);
+		assert.equal(
+			[...selects[7].options].some((option) => option.defaultSelected),
+			false
+		);
+
+		reset.click();
+		await Promise.resolve();
+		flushSync();
+		check(selects[5], [true, false, false]);
+		check(selects[7], [false, false, false]);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/form-default-value-select/main.svelte b/packages/svelte/tests/runtime-runes/samples/form-default-value-select/main.svelte
new file mode 100644
index 0000000000..daa1f9ceee
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/form-default-value-select/main.svelte
@@ -0,0 +1,79 @@
+<script>
+	let selected1 = $state();
+	let selected2 = $state('c');
+	let selected3 = $state();
+	let selected4 = $state(['c']);
+	let defaultValue = $state('b');
+	let multipleDefault = $state(/** @type {string[] | undefined} */ (['a', 'c']));
+	let options = $state(['a']);
+	let props = $state({ defaultValue: 'b' });
+</script>
+
+<form>
+	<select {defaultValue} bind:value={selected1}>
+		<option value="a">A</option>
+		<option value="b">B</option>
+		<option value="c">C</option>
+	</select>
+
+	<select {defaultValue} bind:value={selected2}>
+		<option value="a">A</option>
+		<option value="b">B</option>
+		<option value="c">C</option>
+	</select>
+
+	<select {defaultValue}>
+		<option value="a">A</option>
+		<option value="b">B</option>
+		<option value="c">C</option>
+	</select>
+
+	<select defaultValue="b">
+		{#each options as option}
+			<option value={option}>{option}</option>
+		{/each}
+	</select>
+
+	<select defaultvalue="b">
+		<option value="a">A</option>
+		<option value="b">B</option>
+	</select>
+
+	<select {...props} bind:value={selected3}>
+		<option value="a">A</option>
+		<option value="b">B</option>
+		<option value="c">C</option>
+	</select>
+
+	<select {...{ defaultValue: 'b' }} defaultValue="a">
+		<option value="a">A</option>
+		<option value="b">B</option>
+	</select>
+
+	<select multiple defaultValue={multipleDefault}>
+		<option value="a">A</option>
+		<option value="b">B</option>
+		<option value="c">C</option>
+	</select>
+
+	<select multiple defaultValue={multipleDefault} bind:value={selected4}>
+		<option value="a">A</option>
+		<option value="b">B</option>
+		<option value="c">C</option>
+	</select>
+
+	<input type="reset" value="Reset" />
+	<button
+		type="button"
+		class="update"
+		onclick={() => {
+			defaultValue = 'a';
+			props.defaultValue = 'a';
+		}}>Update defaults</button
+	>
+	<button type="button" class="add" onclick={() => options.push('b')}>Add option</button>
+	<button type="button" class="remove" onclick={() => delete props.defaultValue}>Remove default</button>
+	<button type="button" class="clear" onclick={() => (multipleDefault = undefined)}>Clear defaults</button>
+</form>
+
+<p>{selected1} {selected2} {selected3} {selected4.join(',')}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/Component.svelte b/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/Component.svelte
new file mode 100644
index 0000000000..85b608c739
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/Component.svelte
@@ -0,0 +1,5 @@
+<script>
+	const { text } = $props();
+</script>
+
+<span id="prop">{text}</span>
diff --git a/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/_config.js b/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/_config.js
new file mode 100644
index 0000000000..f6befd7703
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/_config.js
@@ -0,0 +1,15 @@
+import { test } from '../../test';
+
+export default test({
+	async test({ assert, target }) {
+		// a line feed entity in an attribute value stays a line feed...
+		assert.equal(target.querySelector('#attr')?.getAttribute('title'), 'A\nB');
+		assert.equal(target.querySelector('#attr-decimal')?.getAttribute('title'), 'A\nB');
+
+		// ...including when the attribute is a prop passed to a component
+		assert.equal(target.querySelector('#prop')?.textContent, 'A\nB');
+
+		// other entities in attribute values still decode
+		assert.equal(target.querySelector('#attr-other-entity')?.getAttribute('title'), '©');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/main.svelte b/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/main.svelte
new file mode 100644
index 0000000000..d7f5684351
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/html-entity-line-feed/main.svelte
@@ -0,0 +1,9 @@
+<script>
+	import Component from './Component.svelte';
+</script>
+
+<span id="attr" title="A&#x0A;B"></span>
+<span id="attr-decimal" title="A&#10;B"></span>
+<span id="attr-other-entity" title="&copy;"></span>
+
+<Component text="A&#x0A;B" />
diff --git a/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/Item.svelte b/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/Item.svelte
new file mode 100644
index 0000000000..7beabf6124
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/Item.svelte
@@ -0,0 +1,6 @@
+<script>
+	let { item } = $props();
+</script>
+
+<!-- svelte-ignore ownership_invalid_mutation -->
+<input bind:value={item.heading} />
diff --git a/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/_config.js b/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/_config.js
new file mode 100644
index 0000000000..11229fd13e
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/_config.js
@@ -0,0 +1,22 @@
+import { flushSync } from 'svelte';
+import { ok, test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		dev: true
+	},
+	test({ assert, target, warnings }) {
+		const input = target.querySelector('input');
+		const output = target.querySelector('p');
+		ok(input);
+		ok(output);
+
+		input.value = 'renamed';
+		input.dispatchEvent(new Event('input', { bubbles: true }));
+		flushSync();
+
+		assert.equal(output.textContent, 'renamed');
+		assert.deepEqual(warnings, []);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/main.svelte b/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/main.svelte
new file mode 100644
index 0000000000..e5b926cb9c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/ownership-invalid-mutation-binding-ignore/main.svelte
@@ -0,0 +1,8 @@
+<script>
+	import Item from './Item.svelte';
+
+	let item = $state({ heading: 'initial' });
+</script>
+
+<Item {item} />
+<p>{item.heading}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/select-default-value-preserve-selection/_config.js b/packages/svelte/tests/runtime-runes/samples/select-default-value-preserve-selection/_config.js
new file mode 100644
index 0000000000..d409732ab8
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/select-default-value-preserve-selection/_config.js
@@ -0,0 +1,52 @@
+import { flushSync } from 'svelte';
+import { ok, test } from '../../test';
+
+export default test({
+	async test({ assert, target }) {
+		const [nothing, unmatched, spread, late, touched] = target.querySelectorAll('select');
+		const [change_default, change_spread, load, add] = target.querySelectorAll('button');
+		const p = target.querySelector('p');
+		ok(p);
+
+		assert.equal(nothing.selectedIndex, -1);
+		assert.equal(unmatched.selectedIndex, -1);
+		assert.equal(spread.selectedIndex, -1);
+		assert.equal(late.selectedIndex, -1);
+		assert.equal(touched.value, 'b');
+
+		change_default.click();
+		change_spread.click();
+		flushSync();
+
+		assert.equal(nothing.selectedIndex, -1);
+		assert.equal(unmatched.selectedIndex, -1);
+		assert.equal(spread.selectedIndex, -1);
+		assert.equal(spread.className, 'two');
+		assert.htmlEqual(p.innerHTML, 'zzz null');
+		assert.deepEqual(
+			[...nothing.options].map((option) => option.defaultSelected),
+			[true, false]
+		);
+
+		// a default change never moves the current selection
+		assert.equal(touched.value, 'b');
+
+		// a default whose option arrives later selects it
+		load.click();
+		flushSync();
+		await Promise.resolve();
+		assert.equal(late.value, 'b');
+
+		// a user selection survives option mutations and default changes
+		touched.options[2].selected = true;
+		touched.dispatchEvent(new Event('change', { bubbles: true }));
+		add.click();
+		flushSync();
+		await Promise.resolve();
+		assert.equal(touched.value, 'c');
+		assert.deepEqual(
+			[...touched.options].map((option) => option.defaultSelected),
+			[true, false, false, false]
+		);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/select-default-value-preserve-selection/main.svelte b/packages/svelte/tests/runtime-runes/samples/select-default-value-preserve-selection/main.svelte
new file mode 100644
index 0000000000..c7fdea482c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/select-default-value-preserve-selection/main.svelte
@@ -0,0 +1,37 @@
+<script>
+	let unmatched = $state('zzz');
+	let nothing = $state(null);
+	let defaultValue = $state('b');
+	let props = $state({ defaultValue: 'b', class: 'one' });
+	let late = $state([]);
+	let options = $state(['a', 'b', 'c']);
+</script>
+
+<select value={null} {defaultValue}>
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select bind:value={unmatched} {defaultValue}>
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select {...props} bind:value={nothing}>
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select defaultValue="b">
+	{#each late as option}<option value={option}>{option}</option>{/each}
+</select>
+
+<select {defaultValue}>
+	{#each options as option}<option value={option}>{option}</option>{/each}
+</select>
+
+<button onclick={() => (defaultValue = 'a')}>change default</button>
+<button onclick={() => (props.class = 'two')}>change class</button>
+<button onclick={() => (late = ['a', 'b', 'c'])}>load options</button>
+<button onclick={() => options.push('d')}>add option</button>
+<p>{unmatched} {String(nothing)}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/select-default-value-single-observer/_config.js b/packages/svelte/tests/runtime-runes/samples/select-default-value-single-observer/_config.js
new file mode 100644
index 0000000000..411a7868f7
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/select-default-value-single-observer/_config.js
@@ -0,0 +1,30 @@
+import { test } from '../../test';
+
+let observers = 0;
+const MutationObserver = globalThis.MutationObserver;
+
+export default test({
+	before_test() {
+		observers = 0;
+		globalThis.MutationObserver = class extends MutationObserver {
+			/** @param {MutationCallback} callback */
+			constructor(callback) {
+				super(callback);
+				observers++;
+			}
+		};
+	},
+
+	after_test() {
+		globalThis.MutationObserver = MutationObserver;
+	},
+
+	test({ assert, target }) {
+		const selects = target.querySelectorAll('select');
+		for (const select of selects) {
+			assert.equal(select.selectedIndex, 0);
+			assert.equal(select.options[1].defaultSelected, true);
+		}
+		assert.equal(observers, selects.length);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/select-default-value-single-observer/main.svelte b/packages/svelte/tests/runtime-runes/samples/select-default-value-single-observer/main.svelte
new file mode 100644
index 0000000000..7754b3c6fd
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/select-default-value-single-observer/main.svelte
@@ -0,0 +1,21 @@
+<script>
+	let value = $state('a');
+	let bound = $state('a');
+	let spread = $state('a');
+	let props = { defaultValue: 'b' };
+</script>
+
+<select {value} defaultValue="b">
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select bind:value={bound} defaultValue="b">
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select {...props} bind:value={spread}>
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
diff --git a/packages/svelte/tests/runtime-runes/samples/select-function-binding-derived/_config.js b/packages/svelte/tests/runtime-runes/samples/select-function-binding-derived/_config.js
new file mode 100644
index 0000000000..13b7302cee
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/select-function-binding-derived/_config.js
@@ -0,0 +1,9 @@
+import { test } from '../../test';
+
+export default test({
+	ssrHtml: '<select><option value="a">a</option><option value="b" selected="">b</option></select>',
+	test({ assert, target }) {
+		const select = /** @type {HTMLSelectElement} */ (target.querySelector('select'));
+		assert.equal(select.value, 'b');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/select-function-binding-derived/main.svelte b/packages/svelte/tests/runtime-runes/samples/select-function-binding-derived/main.svelte
new file mode 100644
index 0000000000..2c14566193
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/select-function-binding-derived/main.svelte
@@ -0,0 +1,9 @@
+<script>
+	let source = $state('b');
+	let value = $derived(source);
+</script>
+
+<select bind:value={() => value, (next) => (value = next)}>
+	<option value="a">a</option>
+	<option value="b">b</option>
+</select>
diff --git a/packages/svelte/tests/server-side-rendering/samples/empty-boolean-attribute-object/_expected.html b/packages/svelte/tests/server-side-rendering/samples/empty-boolean-attribute-object/_expected.html
new file mode 100644
index 0000000000..0c9cc0cd8c
--- /dev/null
+++ b/packages/svelte/tests/server-side-rendering/samples/empty-boolean-attribute-object/_expected.html
@@ -0,0 +1,6 @@
+<input disabled="">
+<input hidden="">
+<input>
+<select multiple="">
+	<option selected="" value="a">A</option>
+</select>
diff --git a/packages/svelte/tests/server-side-rendering/samples/empty-boolean-attribute-object/main.svelte b/packages/svelte/tests/server-side-rendering/samples/empty-boolean-attribute-object/main.svelte
new file mode 100644
index 0000000000..25af2b774d
--- /dev/null
+++ b/packages/svelte/tests/server-side-rendering/samples/empty-boolean-attribute-object/main.svelte
@@ -0,0 +1,10 @@
+<script>
+	const props = {};
+</script>
+
+<input disabled="" {...props} />
+<input hidden="" {...props} />
+<input disabled={false} {...props} />
+<select multiple="" value="a">
+	<option value="a">A</option>
+</select>
diff --git a/packages/svelte/tests/server-side-rendering/samples/select-default-value/_expected.html b/packages/svelte/tests/server-side-rendering/samples/select-default-value/_expected.html
new file mode 100644
index 0000000000..482f4a9d4c
--- /dev/null
+++ b/packages/svelte/tests/server-side-rendering/samples/select-default-value/_expected.html
@@ -0,0 +1,25 @@
+<select>
+	<option value="a">A</option>
+	<option selected="" value="b">B</option>
+</select>
+<select>
+	<option value="a">A</option>
+	<option selected="" value="b">B</option>
+</select>
+<select>
+	<option selected="" value="a">A</option>
+	<option value="b">B</option>
+</select>
+<select multiple="">
+	<option selected="" value="a">A</option>
+	<option value="b">B</option>
+	<option selected="" value="c">C</option>
+</select>
+<select>
+	<option value="a">A</option>
+	<option selected="" value="b">B</option>
+</select>
+<select>
+	<option selected="" value="a">A</option>
+	<option value="b">B</option>
+</select>
diff --git a/packages/svelte/tests/server-side-rendering/samples/select-default-value/main.svelte b/packages/svelte/tests/server-side-rendering/samples/select-default-value/main.svelte
new file mode 100644
index 0000000000..fe5a858dd0
--- /dev/null
+++ b/packages/svelte/tests/server-side-rendering/samples/select-default-value/main.svelte
@@ -0,0 +1,34 @@
+<script>
+	const props = { defaultValue: 'b' };
+</script>
+
+<select defaultValue="b">
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select {...props}>
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select defaultValue="b" value="a">
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select multiple="" defaultValue={['a', 'c']}>
+	<option value="a">A</option>
+	<option value="b">B</option>
+	<option value="c">C</option>
+</select>
+
+<select defaultvalue="b">
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
+
+<select {...{ defaultValue: 'b' }} defaultValue="a">
+	<option value="a">A</option>
+	<option value="b">B</option>
+</select>
diff --git a/packages/svelte/tests/server-side-rendering/samples/select-multiple-value/_expected.html b/packages/svelte/tests/server-side-rendering/samples/select-multiple-value/_expected.html
new file mode 100644
index 0000000000..c0ab4a082e
--- /dev/null
+++ b/packages/svelte/tests/server-side-rendering/samples/select-multiple-value/_expected.html
@@ -0,0 +1,5 @@
+<select multiple="">
+	<option selected="" value="a">A</option>
+	<option value="b">B</option>
+	<option selected="" value="c">C</option>
+</select>
diff --git a/packages/svelte/tests/server-side-rendering/samples/select-multiple-value/main.svelte b/packages/svelte/tests/server-side-rendering/samples/select-multiple-value/main.svelte
new file mode 100644
index 0000000000..6bde3f597a
--- /dev/null
+++ b/packages/svelte/tests/server-side-rendering/samples/select-multiple-value/main.svelte
@@ -0,0 +1,5 @@
+<select multiple value={['a', 'c']}>
+	<option value="a">A</option>
+	<option value="b">B</option>
+	<option value="c">C</option>
+</select>
diff --git a/packages/svelte/tests/signals/test.ts b/packages/svelte/tests/signals/test.ts
index 07f79bd395..c1ebc3ec75 100644
--- a/packages/svelte/tests/signals/test.ts
+++ b/packages/svelte/tests/signals/test.ts
@@ -1521,4 +1521,74 @@ describe('signals', () => {
 			assert.equal(s.reactions, null);
 		};
 	});
+
+	// https://github.com/sveltejs/svelte/issues/18414
+	test('a reaction that throws after first-reading a fresh derived does not leak it', () => {
+		const src = state(0);
+		const pane = derived(() => $.get(src));
+		const base = derived(() => $.get(pane) + ':base');
+		const extra = derived(() => $.get(pane) + ':extra');
+		const flag = state(false);
+
+		const destroy = effect_root(() => {
+			render_effect(() => {
+				if ($.get(flag)) {
+					$.get(extra);
+					throw new Error('render boom');
+				} else {
+					$.get(base);
+				}
+			});
+		});
+
+		return () => {
+			try {
+				flushSync(() => set(flag, true));
+			} catch {}
+
+			destroy();
+
+			assert.equal(src.reactions, null);
+		};
+	});
+
+	test('a derived that throws on its first run re-runs when its dependencies change', () => {
+		const s = state(0);
+		const fn = () => {
+			if ($.get(s) === 0) throw new Error('boom');
+			return $.get(s);
+		};
+		const owned = derived(fn);
+		const previous_effect = $.active_effect;
+		$.set_active_effect(null);
+		const unowned = derived(fn);
+		$.set_active_effect(previous_effect);
+		const log: any[] = [];
+
+		const destroy = effect_root(() => {
+			render_effect(() => {
+				for (const d of [owned, unowned]) {
+					try {
+						log.push($.get(d));
+					} catch {
+						log.push('error');
+					}
+				}
+			});
+		});
+
+		return () => {
+			assert.notEqual(owned.parent, null);
+			assert.equal(unowned.parent, null);
+
+			flushSync();
+			assert.deepEqual(log, ['error', 'error']);
+
+			flushSync(() => set(s, 1));
+			assert.deepEqual(log, ['error', 'error', 1, 1]);
+
+			destroy();
+			assert.equal(s.reactions, null);
+		};
+	});
 });
diff --git a/packages/svelte/tests/snapshot/samples/async-const/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/async-const/_expected/client/index.svelte.js
index a89ddd94eb..5cb6f52156 100644
--- a/packages/svelte/tests/snapshot/samples/async-const/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/async-const/_expected/client/index.svelte.js
@@ -15,14 +15,25 @@ export default function Async_const($$anchor) {
 			let b;
 
 			var promises = $.run([
-				async () => a = (await $.save($.async_derived(async () => (await $.save(1))())))(),
+				async () => {
+					try {
+						return a = (await $.save($.async_derived(async () => {
+							try {
+								return (await $.save(1))();
+							} finally {
+								$.unsave();
+							}
+						})))();
+					} finally {
+						$.unsave();
+					}
+				},
 				() => b = $.derived(() => $.get(a) + 1)
 			]);
 
 			var p = root();
-			var text = $.child(p, true);
+			var text = $.only_child(p, true);
 
-			$.reset(p);
 			$.template_effect(() => $.set_text(text, $.get(b)), void 0, void 0, [promises[1]]);
 			$.append($$anchor, p);
 		};
diff --git a/packages/svelte/tests/snapshot/samples/async-each-fallback-hoisting/_expected/server/index.svelte.js b/packages/svelte/tests/snapshot/samples/async-each-fallback-hoisting/_expected/server/index.svelte.js
index b331875d04..71ccba4d59 100644
--- a/packages/svelte/tests/snapshot/samples/async-each-fallback-hoisting/_expected/server/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/async-each-fallback-hoisting/_expected/server/index.svelte.js
@@ -15,8 +15,7 @@ export default function Async_each_fallback_hoisting($$renderer) {
 				$$renderer.push(async () => $.escape(await Promise.reject('This should never be reached')));
 			}
 		} else {
-			$$renderer.push('<!--[!-->');
-			$$renderer.push(`<!---->`);
+			$$renderer.push(`<!--[!--><!---->`);
 			$$renderer.push(async () => $.escape(await Promise.resolve(4)));
 		}
 	});
diff --git a/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/client/index.svelte.js
index 5bec8aa76a..4e9cda98ef 100644
--- a/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/client/index.svelte.js
@@ -91,52 +91,78 @@ export default function Async_if_chain($$anchor) {
 
 	var node_3 = $.sibling(node_1, 2);
 
-	$.async(node_3, [$$promises[0]], [async () => (await $.save(foo))() > 10], (node_3, $$condition) => {
-		var consequent_5 = ($$anchor) => {
-			var text_7 = $.text('foo');
-
-			$.append($$anchor, text_7);
-		};
-
-		var consequent_6 = ($$anchor) => {
-			var text_8 = $.text('bar');
-
-			$.append($$anchor, text_8);
-		};
-
-		var alternate_4 = ($$anchor) => {
-			var fragment_2 = $.comment();
-			var node_4 = $.first_child(fragment_2);
-
-			$.async(node_4, [$$promises[0]], [async () => (await $.save(foo))() > 5], (node_4, $$condition) => {
-				var consequent_7 = ($$anchor) => {
-					var text_9 = $.text('baz');
-
-					$.append($$anchor, text_9);
-				};
-
-				var alternate_3 = ($$anchor) => {
-					var text_10 = $.text('else');
-
-					$.append($$anchor, text_10);
-				};
-
-				$.if(
+	$.async(
+		node_3,
+		[$$promises[0]],
+		[
+			async () => {
+				try {
+					return (await $.save(foo))() > 10;
+				} finally {
+					$.unsave();
+				}
+			}
+		],
+		(node_3, $$condition) => {
+			var consequent_5 = ($$anchor) => {
+				var text_7 = $.text('foo');
+
+				$.append($$anchor, text_7);
+			};
+
+			var consequent_6 = ($$anchor) => {
+				var text_8 = $.text('bar');
+
+				$.append($$anchor, text_8);
+			};
+
+			var alternate_4 = ($$anchor) => {
+				var fragment_2 = $.comment();
+				var node_4 = $.first_child(fragment_2);
+
+				$.async(
 					node_4,
-					($$render) => {
-						if ($.get($$condition)) $$render(consequent_7); else $$render(alternate_3, -1);
-					},
-					true
+					[$$promises[0]],
+					[
+						async () => {
+							try {
+								return (await $.save(foo))() > 5;
+							} finally {
+								$.unsave();
+							}
+						}
+					],
+					(node_4, $$condition) => {
+						var consequent_7 = ($$anchor) => {
+							var text_9 = $.text('baz');
+
+							$.append($$anchor, text_9);
+						};
+
+						var alternate_3 = ($$anchor) => {
+							var text_10 = $.text('else');
+
+							$.append($$anchor, text_10);
+						};
+
+						$.if(
+							node_4,
+							($$render) => {
+								if ($.get($$condition)) $$render(consequent_7); else $$render(alternate_3, -1);
+							},
+							true
+						);
+					}
 				);
-			});
 
-			$.append($$anchor, fragment_2);
-		};
+				$.append($$anchor, fragment_2);
+			};
 
-		$.if(node_3, ($$render) => {
-			if ($.get($$condition)) $$render(consequent_5); else if (bar) $$render(consequent_6, 1); else $$render(alternate_4, -1);
-		});
-	});
+			$.if(node_3, ($$render) => {
+				if ($.get($$condition)) $$render(consequent_5); else if (bar) $$render(consequent_6, 1); else $$render(alternate_4, -1);
+			});
+		}
+	);
 
 	var node_5 = $.sibling(node_3, 2);
 
diff --git a/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/server/index.svelte.js b/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/server/index.svelte.js
index 3fc25288ad..466683b868 100644
--- a/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/server/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/async-if-chain/_expected/server/index.svelte.js
@@ -12,14 +12,11 @@ export default function Async_if_chain($$renderer) {
 
 	$$renderer.async_block([$$promises[0]], ($$renderer) => {
 		if (foo) {
-			$$renderer.push('<!--[0-->');
-			$$renderer.push(`foo`);
+			$$renderer.push(`<!--[0-->foo`);
 		} else if (bar) {
-			$$renderer.push('<!--[1-->');
-			$$renderer.push(`bar`);
+			$$renderer.push(`<!--[1-->bar`);
 		} else {
-			$$renderer.push('<!--[-1-->');
-			$$renderer.push(`else`);
+			$$renderer.push(`<!--[-1-->else`);
 		}
 	});
 
@@ -27,21 +24,17 @@ export default function Async_if_chain($$renderer) {
 
 	$$renderer.async_block([$$promises[0]], async ($$renderer) => {
 		if ((await $.save(foo))()) {
-			$$renderer.push('<!--[0-->');
-			$$renderer.push(`foo`);
+			$$renderer.push(`<!--[0-->foo`);
 		} else if (bar) {
-			$$renderer.push('<!--[1-->');
-			$$renderer.push(`bar`);
+			$$renderer.push(`<!--[1-->bar`);
 		} else {
 			$$renderer.push('<!--[-1-->');
 
 			$$renderer.child_block(async ($$renderer) => {
 				if ((await $.save(baz))()) {
-					$$renderer.push('<!--[0-->');
-					$$renderer.push(`baz`);
+					$$renderer.push(`<!--[0-->baz`);
 				} else {
-					$$renderer.push('<!--[-1-->');
-					$$renderer.push(`else`);
+					$$renderer.push(`<!--[-1-->else`);
 				}
 			});
 
@@ -53,21 +46,17 @@ export default function Async_if_chain($$renderer) {
 
 	$$renderer.async_block([$$promises[0]], async ($$renderer) => {
 		if ((await $.save(foo))() > 10) {
-			$$renderer.push('<!--[0-->');
-			$$renderer.push(`foo`);
+			$$renderer.push(`<!--[0-->foo`);
 		} else if (bar) {
-			$$renderer.push('<!--[1-->');
-			$$renderer.push(`bar`);
+			$$renderer.push(`<!--[1-->bar`);
 		} else {
 			$$renderer.push('<!--[-1-->');
 
 			$$renderer.async_block([$$promises[0]], async ($$renderer) => {
 				if ((await $.save(foo))() > 5) {
-					$$renderer.push('<!--[0-->');
-					$$renderer.push(`baz`);
+					$$renderer.push(`<!--[0-->baz`);
 				} else {
-					$$renderer.push('<!--[-1-->');
-					$$renderer.push(`else`);
+					$$renderer.push(`<!--[-1-->else`);
 				}
 			});
 
@@ -78,31 +67,24 @@ export default function Async_if_chain($$renderer) {
 	$$renderer.push(`<!--]--> `);
 
 	if (simple1) {
-		$$renderer.push('<!--[0-->');
-		$$renderer.push(`foo`);
+		$$renderer.push(`<!--[0-->foo`);
 	} else if (simple2 > 10) {
-		$$renderer.push('<!--[1-->');
-		$$renderer.push(`bar`);
+		$$renderer.push(`<!--[1-->bar`);
 	} else if (complex1() * complex2 > 100) {
-		$$renderer.push('<!--[2-->');
-		$$renderer.push(`baz`);
+		$$renderer.push(`<!--[2-->baz`);
 	} else {
-		$$renderer.push('<!--[-1-->');
-		$$renderer.push(`else`);
+		$$renderer.push(`<!--[-1-->else`);
 	}
 
 	$$renderer.push(`<!--]--> `);
 
 	$$renderer.async_block([$$promises[0]], ($$renderer) => {
 		if (blocking() > 10) {
-			$$renderer.push('<!--[0-->');
-			$$renderer.push(`foo`);
+			$$renderer.push(`<!--[0-->foo`);
 		} else if (blocking() > 5) {
-			$$renderer.push('<!--[1-->');
-			$$renderer.push(`bar`);
+			$$renderer.push(`<!--[1-->bar`);
 		} else {
-			$$renderer.push('<!--[-1-->');
-			$$renderer.push(`else`);
+			$$renderer.push(`<!--[-1-->else`);
 		}
 	});
 
diff --git a/packages/svelte/tests/snapshot/samples/async-in-derived/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/async-in-derived/_expected/client/index.svelte.js
index 7e159388c0..9aacfe48bb 100644
--- a/packages/svelte/tests/snapshot/samples/async-in-derived/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/async-in-derived/_expected/client/index.svelte.js
@@ -35,8 +35,34 @@ export default function Async_in_derived($$anchor, $$props) {
 			let no2;
 
 			var promises = $.run([
-				async () => yes1 = (await $.save($.async_derived(async () => (await $.save(1))())))(),
-				async () => yes2 = (await $.save($.async_derived(async () => foo((await $.save(1))()))))(),
+				async () => {
+					try {
+						return yes1 = (await $.save($.async_derived(async () => {
+							try {
+								return (await $.save(1))();
+							} finally {
+								$.unsave();
+							}
+						})))();
+					} finally {
+						$.unsave();
+					}
+				},
+
+				async () => {
+					try {
+						return yes2 = (await $.save($.async_derived(async () => {
+							try {
+								return foo((await $.save(1))());
+							} finally {
+								$.unsave();
+							}
+						})))();
+					} finally {
+						$.unsave();
+					}
+				},
+
 				() => no1 = $.derived(() => (async () => {
 					return await 1;
 				})()),
diff --git a/packages/svelte/tests/snapshot/samples/async-top-level-inspect-server/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/async-top-level-inspect-server/_expected/client/index.svelte.js
index 901de957c4..d16d90b30b 100644
--- a/packages/svelte/tests/snapshot/samples/async-top-level-inspect-server/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/async-top-level-inspect-server/_expected/client/index.svelte.js
@@ -9,9 +9,8 @@ export default function Async_top_level_inspect_server($$anchor) {
 	var data;
 	var $$promises = $.run([async () => data = await Promise.resolve(42), () => void 0]);
 	var p = root();
-	var text = $.child(p, true);
+	var text = $.only_child(p, true);
 
-	$.reset(p);
 	$.template_effect(() => $.set_text(text, data), void 0, void 0, [$$promises[1]]);
 	$.append($$anchor, p);
 }
\ No newline at end of file
diff --git a/packages/svelte/tests/snapshot/samples/await-block-scope/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/await-block-scope/_expected/client/index.svelte.js
index a3d6d93d36..e1ebda1b1e 100644
--- a/packages/svelte/tests/snapshot/samples/await-block-scope/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/await-block-scope/_expected/client/index.svelte.js
@@ -14,10 +14,7 @@ export default function Await_block_scope($$anchor) {
 
 	var fragment = root();
 	var button = $.first_child(fragment);
-	var text = $.child(button);
-
-	$.reset(button);
-
+	var text = $.only_child(button);
 	var node = $.sibling(button, 2);
 
 	$.await(node, () => $.get(promise), null, ($$anchor, counter) => {});
diff --git a/packages/svelte/tests/snapshot/samples/dedupe-templates/_expected/server/index.svelte.js b/packages/svelte/tests/snapshot/samples/dedupe-templates/_expected/server/index.svelte.js
index 1f4a56779e..be305165cb 100644
--- a/packages/svelte/tests/snapshot/samples/dedupe-templates/_expected/server/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/dedupe-templates/_expected/server/index.svelte.js
@@ -4,18 +4,15 @@ export default function Dedupe_templates($$renderer, $$props) {
 	let { a, b } = $$props;
 
 	if (a) {
-		$$renderer.push('<!--[0-->');
-		$$renderer.push(`<p class="x">hello</p>`);
+		$$renderer.push(`<!--[0--><p class="x">hello</p>`);
 	} else {
-		$$renderer.push('<!--[-1-->');
-		$$renderer.push(`<p class="x">hello</p>`);
+		$$renderer.push(`<!--[-1--><p class="x">hello</p>`);
 	}
 
 	$$renderer.push(`<!--]--> `);
 
 	if (b) {
-		$$renderer.push('<!--[0-->');
-		$$renderer.push(`<p class="x">hello</p>`);
+		$$renderer.push(`<!--[0--><p class="x">hello</p>`);
 	} else {
 		$$renderer.push('<!--[-1-->');
 	}
diff --git a/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js
index 45f7fb88cb..d340709f44 100644
--- a/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js
@@ -17,10 +17,7 @@ export default function Nullish_coallescence_omittance($$anchor, $$props) {
 	b.textContent = '123';
 
 	var button = $.sibling(b, 2);
-	var text = $.child(button);
-
-	$.reset(button);
-
+	var text = $.only_child(button);
 	var h1_1 = $.sibling(button, 2);
 
 	h1_1.textContent = 'Hello, world';
diff --git a/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/client/index.svelte.js
index 42468c4e04..6a54871023 100644
--- a/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/client/index.svelte.js
@@ -36,7 +36,6 @@ var option_content = $.from_html(`<span>Rich</span>`, 1);
 var root_4 = $.from_html(`<option> </option>`);
 var root_5 = $.from_html(`<option>Visible</option>`);
 var root_6 = $.from_html(`<option>Keyed</option>`);
-var select_content = $.from_html(`<!>`, 1);
 var option_content_1 = $.from_html(`<strong>Bold</strong>`, 1);
 var option_content_2 = $.from_html(`<em>Italic</em> text`, 1);
 var option_content_3 = $.from_html(`<span> </span>`, 1);
@@ -66,17 +65,14 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.each(select_1, 5, () => items, $.index, ($$anchor, item) => {
 		var option_5 = root_4();
-		var text = $.child(option_5, true);
-
-		$.reset(option_5);
-
+		var text = $.only_child(option_5, true);
 		var option_5_value = {};
 
 		$.template_effect(() => {
 			$.set_text(text, $.get(item));
 
 			if (option_5_value !== (option_5_value = $.get(item))) {
-				option_5.__value = $.get(item);
+				option_5.__value = option_5_value;
 			}
 		});
 
@@ -117,7 +113,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(select_4, () => {
 		var anchor_1 = $.child(select_4);
-		var fragment_2 = select_content();
+		var fragment_2 = $.comment();
 		var node_2 = $.first_child(fragment_2);
 
 		opt(node_2);
@@ -129,17 +125,14 @@ export default function Select_with_rich_content($$anchor) {
 	$.each(select_5, 5, () => items, $.index, ($$anchor, item) => {
 		const x = $.derived_safe_equal(() => $.get(item) * 2);
 		var option_8 = root_4();
-		var text_1 = $.child(option_8, true);
-
-		$.reset(option_8);
-
+		var text_1 = $.only_child(option_8, true);
 		var option_8_value = {};
 
 		$.template_effect(() => {
 			$.set_text(text_1, $.get(x));
 
 			if (option_8_value !== (option_8_value = $.get(x))) {
-				option_8.__value = $.get(x);
+				option_8.__value = option_8_value;
 			}
 		});
 
@@ -167,17 +160,14 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.each(optgroup_1, 5, () => items, $.index, ($$anchor, item) => {
 		var option_10 = root_4();
-		var text_2 = $.child(option_10, true);
-
-		$.reset(option_10);
-
+		var text_2 = $.only_child(option_10, true);
 		var option_10_value = {};
 
 		$.template_effect(() => {
 			$.set_text(text_2, $.get(item));
 
 			if (option_10_value !== (option_10_value = $.get(item))) {
-				option_10.__value = $.get(item);
+				option_10.__value = option_10_value;
 			}
 		});
 
@@ -210,9 +200,8 @@ export default function Select_with_rich_content($$anchor) {
 			var anchor_4 = $.child(option_12);
 			var fragment_5 = option_content_3();
 			var span = $.first_child(fragment_5);
-			var text_3 = $.child(span, true);
+			var text_3 = $.only_child(span, true);
 
-			$.reset(span);
 			$.template_effect(() => $.set_text(text_3, $.get(item)));
 			$.append(anchor_4, fragment_5);
 		});
@@ -232,17 +221,14 @@ export default function Select_with_rich_content($$anchor) {
 
 			$.each(node_4, 1, () => items, $.index, ($$anchor, item) => {
 				var option_13 = root_4();
-				var text_4 = $.child(option_13, true);
-
-				$.reset(option_13);
-
+				var text_4 = $.only_child(option_13, true);
 				var option_13_value = {};
 
 				$.template_effect(() => {
 					$.set_text(text_4, $.get(item));
 
 					if (option_13_value !== (option_13_value = $.get(item))) {
-						option_13.__value = $.get(item);
+						option_13.__value = option_13_value;
 					}
 				});
 
@@ -292,7 +278,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(select_13, () => {
 		var anchor_6 = $.child(select_13);
-		var fragment_8 = select_content();
+		var fragment_8 = $.comment();
 		var node_7 = $.first_child(fragment_8);
 
 		Option(node_7, {});
@@ -303,7 +289,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(select_14, () => {
 		var anchor_7 = $.child(select_14);
-		var fragment_9 = select_content();
+		var fragment_9 = $.comment();
 		var node_8 = $.first_child(fragment_9);
 
 		option_snippet(node_8);
@@ -314,7 +300,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(select_15, () => {
 		var anchor_8 = $.child(select_15);
-		var fragment_10 = select_content();
+		var fragment_10 = $.comment();
 		var node_9 = $.first_child(fragment_10);
 
 		$.html(node_9, () => html);
@@ -326,7 +312,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(optgroup_2, () => {
 		var anchor_9 = $.child(optgroup_2);
-		var fragment_11 = select_content();
+		var fragment_11 = $.comment();
 		var node_10 = $.first_child(fragment_11);
 
 		Option(node_10, {});
@@ -340,7 +326,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(optgroup_3, () => {
 		var anchor_10 = $.child(optgroup_3);
-		var fragment_12 = select_content();
+		var fragment_12 = $.comment();
 		var node_11 = $.first_child(fragment_12);
 
 		option_snippet2(node_11);
@@ -354,7 +340,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(option_16, () => {
 		var anchor_11 = $.child(option_16);
-		var fragment_13 = select_content();
+		var fragment_13 = $.comment();
 		var node_12 = $.first_child(fragment_13);
 
 		$.html(node_12, () => '<strong>Bold HTML</strong>');
@@ -367,7 +353,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(select_19, () => {
 		var anchor_12 = $.child(select_19);
-		var fragment_14 = select_content();
+		var fragment_14 = $.comment();
 		var node_13 = $.first_child(fragment_14);
 
 		$.each(node_13, 1, () => items, $.index, ($$anchor, item) => {
@@ -381,7 +367,7 @@ export default function Select_with_rich_content($$anchor) {
 
 	$.customizable_select(select_20, () => {
 		var anchor_13 = $.child(select_20);
-		var fragment_16 = select_content();
+		var fragment_16 = $.comment();
 		var node_14 = $.first_child(fragment_16);
 
 		{
diff --git a/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/server/index.svelte.js b/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/server/index.svelte.js
index bc346b4b0a..de22dc2f96 100644
--- a/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/server/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/select-with-rich-content/_expected/server/index.svelte.js
@@ -148,8 +148,7 @@ export default function Select_with_rich_content($$renderer) {
 	$$renderer.push(`<!--]--></select> <select>`);
 
 	if (show) {
-		$$renderer.push('<!--[0-->');
-		$$renderer.push(`<!--[-->`);
+		$$renderer.push(`<!--[0--><!--[-->`);
 
 		const each_array_4 = $.ensure_array_like(items);
 
diff --git a/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js
index f0be67fed5..831b2777ee 100644
--- a/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js
@@ -8,10 +8,7 @@ export default function Skip_static_subtree($$anchor, $$props) {
 	var fragment = root();
 	var main = $.sibling($.first_child(fragment), 2);
 	var h1 = $.child(main);
-	var text = $.child(h1, true);
-
-	$.reset(h1);
-
+	var text = $.only_child(h1, true);
 	var node = $.sibling(h1, 10);
 
 	$.html(node, () => $$props.content);
@@ -41,10 +38,7 @@ export default function Skip_static_subtree($$anchor, $$props) {
 
 	option.value = option.__value = 'a';
 	$.reset(select);
-
-	var img = $.sibling(select, 2);
-
-	$.next(2);
+	$.next(4);
 	$.template_effect(() => $.set_text(text, $$props.title));
 	$.append($$anchor, fragment);
 }
\ No newline at end of file
diff --git a/packages/svelte/tests/snapshot/samples/text-nodes-deriveds/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/text-nodes-deriveds/_expected/client/index.svelte.js
index 8511b45c19..10d81914ea 100644
--- a/packages/svelte/tests/snapshot/samples/text-nodes-deriveds/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/text-nodes-deriveds/_expected/client/index.svelte.js
@@ -17,9 +17,8 @@ export default function Text_nodes_deriveds($$anchor) {
 	}
 
 	var p = root();
-	var text = $.child(p);
+	var text = $.only_child(p);
 
-	$.reset(p);
 	$.template_effect(($0, $1) => $.set_text(text, `${$0 ?? ''}${$1 ?? ''}`), [() => text1(), () => text2()]);
 	$.append($$anchor, p);
 }
\ No newline at end of file
diff --git a/vitest.config.js b/vitest.config.js
index 116dfae9d8..faabcfbea4 100644
--- a/vitest.config.js
+++ b/vitest.config.js
@@ -28,7 +28,7 @@ export default defineConfig({
 	},
 	test: {
 		dir: '.',
-		reporters: ['dot'],
+		reporters: process.env.GITHUB_ACTIONS === 'true' ? ['minimal'] : ['dot'],
 		// A handful of dev-mode tests trigger Svelte's `effect_update_depth_exceeded`
 		// guard, which involves ~1000 Error objects per flush for stack tracking —
 		// slow enough under vitest 4's deeper async stacks (and CI's slower workers)