Finance

Jitters regarding high-flying technology valuations were exacerbated following the release of an advanced open AI model, Kimi K3, by China-based startup Moonshot AI. Claimed to match or surpass top-tier domestic tech offerings, the announcement prompted investors to reassess the premiums and heavy infrastructure spending of American semiconductor giants.

Energy markets spiked significantly as military confrontations between the United States and Iran threatened key infrastructure along vital transport corridors like the Strait of Hormuz. Brent crude climbed over 4% to settle above $85 per barrel, posting its most robust weekly gain since April as supply disruption fears gripped investors.

Despite a brief intraday rebound, bullion prices faced intense downward pressure, steering toward their steepest weekly decline in six weeks. The resurgence of higher oil costs has renewed market anxieties that consumer price inflation will remain sticky, potentially encouraging the Federal Reserve to implement additional monetary tightening.