The ceasefire between the U.S. and Iran has effectively ended, as President Trump declared it 'over' amid renewed military actions in the Strait of Hormuz. This escalation has resulted in a drop in key U.S. stock indexes, including the Dow Jones Industrial Average and S&P 500, while oil prices surged, with Brent crude rising 5.43% to $78.19 per barrel.
Trump's comments also targeted NATO allies, particularly Spain, over defense spending, further straining international relations. In the tech sector, Broadcom benefited from an expanded partnership with Apple, which is expected to exceed $30 billion, marking a significant commitment to U.S. manufacturing.
Meanwhile, the Federal Reserve is grappling with differing views on future interest rates, influenced by potential inflationary pressures from the Middle East situation. In Asia, South Korean AI chip firm Rebellions is planning an IPO, reflecting strong investor interest in AI technology.
Lastly, SpaceX's stock has dipped below its debut price following its inclusion in the Nasdaq-100 index, highlighting the volatility surrounding new public companies