WS #12256
The US-Iran conflict continues to escalate with a sixth consecutive night of US strikes, now targeting the southern port city of Bandar Abbas, causing power outages and civilian injuries. The IRGC has launched a retaliatory attack on a US command center in Syria's Al-Tanf region, destroying a radar system and helicopters, and has threatened to halt all oil and gas passage through the Strait of Hormuz as long as US strikes continue. This has driven Brent crude up 1.25% to $85.28/barrel, with both benchmarks up ~12% for the week. The escalation is triggering a broad risk-off move: Japan's Nikkei dropped 5-6% on tech selloff, Eurostoxx 50 futures fell 1.1%, S&P 500 futures extended fall to 0.85%, and Nasdaq futures down 1.45%. Asian tech shares are tumbling following the US chip slump. Gold remains below $4,000/oz, pressured by Fed hawkishness. In corporate news, Databricks targets a $188B valuation in a Coatue-led strategic funding round, and Eoptolink is said to file for up to $5 billion Hong Kong listing. The overall narrative is ESCALATING for the Iran conflict, with the Strait of Hormuz threat becoming more explicit, driving energy stocks higher while pressuring risk assets globally.
Topics
Key developments
- IRGC threatens to halt all oil and gas passage through Strait of Hormuz as US strikes continue
- US strikes Iranian port city Bandar Abbas for sixth consecutive night, causing civilian casualties
- IRGC claims attack on US command center in Syria, destroying radar and helicopters
- Global equity futures plunge: Nikkei -5%, S&P 500 futures -0.85%, Nasdaq futures -1.45%
- Brent crude rises 1.25% to $85.28, both benchmarks up ~12% for the week
- Databricks targets $188B valuation in Coatue-led strategic funding round
- Eoptolink said to file for up to $5 billion Hong Kong listing