Finance

The technology sector faced renewed selling pressure following the unexpected unveiling of Moonshot AI's new Kimi K3 large language model. Wall Street analysts noted that the advanced performance of the Chinese model sparked concerns over heightened global competition, undercutting confidence in the near-term monetization of massive domestic AI infrastructure investments.

Crude oil futures surged as direct military exchanges between the United States and Iran threatened energy infrastructure and logistical flows near the critical Strait of Hormuz. Both global benchmark Brent crude and domestic West Texas Intermediate contracts realized an approximate 12% jump for the week, stoking renewed market anxiety over lingering inflationary pressures.

Gold futures logged their largest weekly decline in six weeks, weighed down by a strengthening U.S. dollar and fears that soaring energy costs will keep interest rates higher for longer. Although spot gold recovered slightly to hover around $4,011 per ounce before the weekend, expectations of potential central bank monetary tightening kept the non-yielding asset near multi-month lows.