Finance

South Korean semiconductor giant SK Hynix completed the largest-ever U.S. share sale by a foreign entity, raising over $26 billion through American depositary receipts. The company's stock jumped 13% above its initial offering price on its first day of trading on the Nasdaq, driven by robust institutional demand for high-bandwidth memory suppliers linked to the artificial intelligence boom. The successful launch reinvigorated enthusiasm for chipmakers across the wider technology sector.

Financial markets largely shrugged off renewed tensions in the Middle East after President Trump announced that the recent June ceasefire with Iran had collapsed. Despite early-week volatility and minor jumps in global oil markets, Brent crude prices actually tapered off toward the end of the week, closing slightly lower on Friday. Analysts noted that equity markets appear to be downplaying the conflict as investor appetite remains firmly anchored to technology growth and upcoming corporate earnings.

A new monetary report delivered to Congress highlighted a moderately expanding economy fueled by artificial intelligence buildouts, though held back by stagnant housing and modest consumption. Issued under the new leadership of Chairman Kevin Warsh, the report noted heightened inflation risks stemming from ongoing trade tariffs and military conflict. With the central bank maintaining steady interest rates since December, central bank officials remain evenly divided on whether rate hikes will be required later this year.