Finance

SpaceX shares fell over 10% following the release of its latest financial details, despite beating top-line market expectations. The decline was fueled by investor anxiety surrounding the company's aggressive financial investments into artificial intelligence infrastructure. Relatedly, Advanced Micro Devices shares also dipped after Elon Musk confirmed that SpaceX would exclusively source its chips from rival Nvidia.

Spot gold prices surged more than 2% to near $4,200 per ounce, marking the metal's highest trading level in several weeks. The commodity's gains were driven by a subdued U.S. dollar and a recent drop in international crude benchmarks, which alleviated immediate fears of runaway inflation. Safe-haven demand remained steady as investors monitored ongoing diplomatic updates regarding critical global trade routes.

International crude oil futures steadied around $81 a barrel following a multi-day decline as diplomatic talks aimed at reopening the vital shipping waterway progressed. U.S. officials signaled potential resolution to the regional conflict, boosting broader risk-on sentiment across equities. Analysts note that a confirmed de-escalation could continue to diminish global economic headwinds and lower nationwide energy costs.