Finance

Brent crude surged toward $100 per barrel after the U.S. military reported Iranian missile fire toward Kuwait and Bahrain. The resulting closure of the Strait of Hormuz and the failure of indirect peace negotiations have heightened inflation fears and placed additional pressure on global energy supplies.

Despite a broader market retreat, chipmakers like Marvell Technology saw gains exceeding 30% after industry leaders identified them as potential trillion-dollar enterprises. This enthusiasm for AI infrastructure continues to support the technology sector, even as software firms and other tech giants like Alphabet face volatility from massive capital raises for AI development.

Bitcoin fell below the $66,000 threshold for the first time in months, driven by unprecedented monthly ETF outflows totaling billions of dollars. Analysts are pointing to a combination of high bond yields, geopolitical stress, and a collapse in industry-specific narratives as primary drivers for the current digital asset downturn.