WS #5773
Markets are under pressure as Iran tensions escalate, with reports of power struggles in Tehran and a trio of US aircraft carriers positioned off Iran's coast. The Dow, S&P 500, and Nasdaq 100 are all down ~0.8-0.9%, with oil prices rising on renewed geopolitical risk. A security source denies Israel is attacking Iran, but the overall situation remains volatile. Separately, Meta confirmed plans to cut 10% of its workforce (~8,000 jobs) and close 6,000 open roles to offset heavy AI spending, a significant cost-cutting move that could pressure tech sentiment. Warner Bros shareholders approved Paramount's $81 billion takeover, creating a media giant. On the positive side, Siemens Energy raised its full-year guidance on strong grid and wind orders, and NVIDIA was upgraded to Buy on AI supercycle valuation. Bitcoin holds around $78,000 amid the turmoil.
Key developments
- Iran tensions escalate: power struggles in Tehran, US carriers deployed, oil rises
- Meta to cut 10% of workforce, close 6,000 open roles to offset AI costs
- Warner Bros shareholders approve Paramount $81B takeover
- Siemens Energy raises FY guidance on strong grid/wind orders
- NVIDIA upgraded to Buy on AI supercycle valuation
- US equities fall on Iran fears: Dow -0.8%, S&P 500 -0.8%, Nasdaq 100 -0.9%