Big-Tech, Bonds, & Bitcoin Dump On AI Debt; Black Gold Jumps As US-Iran Brinksmanship Builds

Tl;dr: Higher oil prices as Iran and Oman remained short of a deal to reopen the Strait (and Trump is 'laying low' with new threats), dragged bond yields higher, lifting rate-hike odds along with the dollar. Stocks were solid until NVDA headlines stirred the 'circular financing' fears and dragged mega-cap tech lower (along with the rest of the market). Bitcoin was clubbed like a baby seal (after solid inflows last week) as gold gained.

So a double-whammy of risk-appetite wrecking fears hit the markets after a 'legendary' chase higher last week with 'biblical' put-skew flattening...

Oil