WS #9501
The dominant narrative remains a sharp tech selloff (ESCALATING), with the XLK Tech ETF down 8.4% over the last four sessions. No new material developments have emerged in the last 30 minutes to alter this trajectory. The previous synthesis's key themes—tech rout, US-Iran escalation, oil price support, and company-specific earnings—remain unchanged without any counter-signals or de-escalation.
Key developments
- Dow plunges 950 points, closes below 50K; S&P 500 skids 1.6%, Nasdaq tumbles 2% amid tech rout
- Trump holds Situation Room meeting on Iran strike options, nearing decision on oil infrastructure strikes
- Qatari delegation leaves Tehran; negotiations collapse
- Oracle beats Q4 estimates but announces $40B debt/equity financing plan; stock drops ~8% after hours
- SpaceX secures investment-grade ratings ahead of IPO; CIBC to offer access to Canadian investors
- Russian Kuibyshev Refinery halts operations after drone attack; Syzran Refinery still down
- India summons US envoy over attack on ship carrying Indian sailors off Oman
- Navan raises FY2027 sales guidance above estimates; shares rise