Overview
- The U.S. launched strikes against Iran and President Trump said the ceasefire was over on Wednesday, prompting an immediate sell-off in stocks, a sharp jump in crude prices and a rise in 10-year Treasury yields.
- Oil surged into the high-$70s per barrel on the escalation but gave back much of its gains by Friday as market calm partially returned and tanker traffic through the Strait of Hormuz remained constrained.
- SK Hynix completed a roughly $26.5 billion U.S. share sale and made its Nasdaq debut on Friday, a large offering that helped lift chip and AI-related names and supported a broader market rebound.
- Equity indexes moved from steep intraday losses to modest gains or mixed finishes as AI and semiconductor strength — together with supportive corporate updates such as Micron's U.S. investment plans — refocused investor sentiment.
- Policy and diplomatic uncertainty persist because the U.S. revoked Iran oil waivers and reports say U.S.-Iran talks continue, leaving near-term market direction tied to further diplomatic signals and key data like U.S. CPI next week.