Finance

Energy markets experienced a sharp downturn as oil prices fell roughly 9% for the week following a landmark agreement between the United States and Iran. The signing of a memorandum of understanding to end hostilities and reopen the Strait of Hormuz to oil tanker traffic significantly eased global supply concerns. Brent crude prices settled near $80 per barrel, their lowest levels since the onset of the conflict, providing a tailwind for broader equity sentiment by reducing inflationary pressures.

New Federal Reserve Chairman Kevin Warsh has initiated a major shift in monetary policy communication by deciding to end the practice of "forward guidance." In his debut press conference, Warsh emphasized that investors should rely more on economic data than central bank hints to gauge future rate movements. This change in policy, combined with quarterly projections showing that half of the Fed's officials now favor a rate hike in 2026, has led to increased volatility and a flattening of the Treasury yield curve.

After a record-breaking initial public offering last week, shares of Elon Musk's SpaceX have faced sustained downward pressure, falling roughly 5% to 6% in recent sessions. The pullback has erased much of the gains seen by open-market investors immediately following the stock's debut as initial post-IPO momentum cools. Despite this correction in a high-profile technology name, investor appetite remains strong for other segments of the tech sector, particularly those tied to the artificial intelligence buildout.