Good evening and welcome to Markets Desk, your end-of-week read on what's moving money and markets.
Stocks closed the week under pressure, with technology shares leading the selloff as inflation fears crept back into the conversation. Money rotated out of growth names and into traditional Dow components, a classic defensive pivot that signals investors are reassessing risk tolerance heading into the summer.
That caution is playing out in the macro backdrop as well. American forces and Iran exchanged strikes near the Strait of Hormuz, with Kuwait and Bahrain drawn into the conflict as US assets intercepted Iranian drones. The Strait handles roughly a fifth of global oil supply, and any sustained escalation there puts immediate pressure on energy prices and rattles the broader ceasefire framework in the region.
Meanwhile, Warren Buffett has been trimming Berkshire Hathaway's largest equity position, redeploying that capital elsewhere. Buffett's moves are always watched as a sentiment signal, and when the Oracle of Omaha lightens up on his most trusted name, markets pay attention. The question now is whether that cash finds a home in equities or simply builds on Berkshire's already substantial reserves.
That's the tape. Markets Desk, signing off the floor.
