Finance

Global energy benchmarks experienced a sharp decline as fears of supply disruptions through the Strait of Hormuz dissipated. Brent crude fell roughly 4.5% to trade below $84 per barrel, providing a potential reprieve for central banks concerned about persistent energy-driven inflation.

Under the new leadership of Chairman Kevin Warsh, the Federal Reserve is expected to formalize a pivot away from its previous easing bias during the June policy meeting. Market participants are increasingly pricing in an extended hold on interest rates, with growing speculation that the next move could be a hike rather than a cut.

SpaceX reached a market valuation exceeding $2 trillion following its highly anticipated first day of trading. While the debut initially lifted related aerospace firms, competitors like Rocket Lab and Planet Labs saw their shares ease shortly after as the market consolidated around the new industry giant.