2h ago
Global tech rout deepens as SpaceX extends four-day slide
A sharp global selloff in technology stocks pushed Nasdaq 100 futures down 2.8%, while S&P 500 and Dow futures also fell. SpaceX extended its decline for a fourth session, including a $400 billion one-day market-value wipeout, as AI-linked chip and hardware names such as Nvidia, Tesla and Intel fell more than 5%. South Korea’s KOSPI slid 10%, with Samsung and SK Hynix down more than 12%. The moves were driven by fears that Iran war-related disruption around the Strait of Hormuz could lift inflation and interest-rate expectations, weighing on high-valuation growth stocks.
2h ago
1d ago
Trump-backed Abelardo de la Espriella leads Colombia’s presidential runoff 49.7% to 48.7% as Iván Cepeda contests the count
Colombia’s presidential runoff ended with Trump-backed Abelardo de la Espriella ahead of Iván Cepeda, 49.7% to 48.7%, though election officials have not formally declared a winner. Cepeda, joined by outgoing President Gustavo Petro, said they will challenge results from more than 30,000 voting stations. The contest has centered on sharply different approaches to security and governance, with no new escalation in violence, sanctions, energy supply disruptions, or sovereign credit events reported.
1d ago
6-20
U.S. drivers have spent $33 billion more on gas since Feb. 28 as prices rise 34%
Since Feb. 28, when the U.S. first struck Iran, the average national gasoline price has climbed 34%, reaching a weekly average of $4.63 per gallon in mid-May—one of the 10 highest weekly levels in the past decade. A Brown University estimate puts the added spending by Americans at $33 billion. The article links the surge in fuel costs to the escalation of the U.S.-Iran war and says a peace agreement has yet to be finalized, keeping geopolitical risks elevated.
6-20
6-18
U.S. oil stockpiles slide as Cushing drops to 20 million barrels and strategic reserve hits lowest since 1983
U.S. oil inventories extended their slide as the Strategic Petroleum Reserve fell to its lowest level since 1983 and stockpiles at Cushing, Oklahoma dropped to 20 million barrels. Commercial crude inventories fell 8.3 million barrels in the second week of June, while 8.9 million barrels were withdrawn from the SPR, marking a tenth straight weekly decline, according to the Energy Information Administration. The Strait of Hormuz remained largely idle as no peace-deal text was released and shipping firms said reopening could take weeks. Oil prices briefly fell after President Donald Trump said a deal had been reached, but WTI rose 1% on Wednesday after the inventory data.
6-18
6-16
SpaceX market value hits $2.94 trillion after shares jump more than 45% in three sessions
SpaceX shares began trading on the Nasdaq and rose more than 45% in three days, climbing from $150 to above $220 and lifting its market value to $2.94 trillion. The move pushed SpaceX past Amazon and Microsoft to become the world’s fourth-largest publicly traded company. Retail investors piled into SPCX, with one-day net buying close to last week’s total net buying across the entire U.S. stock market. Amazon and Microsoft had no negative news, but their relative performance lagged as money rotated into SPCX.
6-16