QtrendsGlobal markets ended a turbulent week with tech stocks under heavy selling pressure across Asia and the US. US-Iran tensions escalated as Washington confirmed retaliatory strikes on Iran, sending oil prices higher and threatening shipping recovery in the Persian Gulf. SpaceX and Micron face investor uncertainty amid AI hype cooling and bond market warning signals. Trump threatened 100% tariffs on Europe over digital services taxes, drawing a swift response from the EU. The White House asked OpenAI to limit its next model release, prompting a rally in software stocks as competitive fears eased.
Asian and US equity markets suffered sharp declines this week as technology stocks led a broad sell-off. IT firms including Coforge, Mphasis, and Persistent saw their share price targets slashed amid mounting pressure on the sector. CNBC identified the most oversold stocks after a turbulent week, while the BBC reported that Asia stock markets slid as the tech slump deepened.
The United States confirmed retaliatory military strikes on Iran, pushing oil prices higher in after-hours trading. The escalating conflict is now testing the shipping insurance market, which had recently seen war-risk premiums plunge. Renewed strikes threaten to derail the shipping recovery in the Persian Gulf, raising concerns about global supply chains and energy costs.
SpaceX investors are grappling with volatility as the company's new bonds flash warning signs, while the broader AI frenzy shows signs of cooling. CNBC reported on 'the cult of Elon' and how investors are navigating big swings in SpaceX's valuation. MarketWatch explored how Micron is attempting to break through the risk cycle that has spooked semiconductor investors for decades.
Former President Donald Trump threatened to impose 100% tariffs on European imports in response to digital services taxes levied by EU countries. CNN reported that markets showed little reaction, viewing the threat as unlikely to materialize. AP News and the BBC covered Europe's vow to respond swiftly, while Business Today noted the EU's warning of retaliation if tariffs are enacted.
The White House requested that OpenAI restrict the release of its next-generation GPT-5.6 model, citing unspecified concerns. Forbes reported that OpenAI complied by limiting user access after the government request. The move triggered a surge in software stocks — including ServiceNow and Salesforce — as investors bet that reduced competitive pressure from OpenAI benefits the broader enterprise software sector.