Finance

Semiconductor stocks experienced a sharp sell-off following an underwhelming fiscal report from Broadcom, which saw its shares plunge 13% in extended trading. The disappointment spilled over into other industry leaders like Arm Holdings and Micron Technology, raising broader concerns about the immediate growth trajectory of AI-driven hardware demand.

Renewed military clashes between the United States and Iran have injected significant volatility into energy markets, causing crude prices to surge as traders weigh risks to the Strait of Hormuz. Despite the instability, the U.S. dollar remained firm while legislative efforts in the House sought to limit further military operations.

Elon Musk's aerospace and AI venture, SpaceX, has priced its upcoming initial public offering at $135 per share, aiming for a total valuation of $1.77 trillion. This figure would establish SpaceX as the largest IPO in history, significantly surpassing previous records and signaling a major test for public market liquidity.