Good morning, you're tuned in to Markets Desk.
Oil is the sharpest mover in the room right now, with crude spiking more than three percent after Iran and Israel exchanged strikes, reigniting fears of a sustained regional conflict. Energy traders are pricing in supply disruption risk, and safe-haven flows are visible across bonds and gold as the session opens under pressure.
Shifting to equity markets, the conversation on Wall Street this morning keeps circling back to Friday's sharp selloff in tech, the worst single-day decline since October. A top analyst is drawing uncomfortable parallels to nineteen ninety-nine, warning that AI valuations have stretched far beyond what fundamentals can currently support, and that investors and sell-side desks alike may be dangerously over-extended in the trade.
And on the corporate front, NVIDIA is extending its global infrastructure footprint with a major new deal alongside SK Telecom. The two companies announced plans to build a gigawatt-scale AI cloud in Korea using NVIDIA's DSX platform, with the first facility expected to come online in two thousand twenty-seven. For NVIDIA, it is another concrete revenue anchor in a quarter where the stock badly needs one.
That's the tape. Markets Desk, signing off the floor.
