WS #10741

The dominant narrative remains the global tech selloff, with Apple's price hikes and fears over a delayed OpenAI IPO sending Asian bourses sharply lower. Kioxia shares slumped 12% as AI-related stocks fell, and Taiwan's Weighted index dropped 2.24%. Bloomberg reported a 'chip wreck in markets,' and FTSE 100 futures fell on tech weakness. However, a significant counter-signal emerges: the UN agency has paused evacuations of ships through the Strait of Hormuz after an attack on a vessel, escalating tensions. This is corroborated by multiple sources (NPR, Bloomberg, FT, and Polymarket markets on Strait of Hormuz traffic). Additionally, the IAEA confirmed access to Iran's nuclear sites after an interim peace deal, which could de-escalate geopolitical risk. South Korea announced plans to train half a million military personnel as 'drone warriors,' signaling increased defense spending. The tech selloff is escalating, but the Hormuz tension could support oil prices and energy stocks, while the IAEA deal may offset some geopolitical risk.