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Ferrari's electric debut is already rewriting the collector car market. The Luce, unveiled just three months ago at five hundred fifty thousand euros, has now fetched forty million dollars at auction, signaling that ultra-high-net-worth buyers aren't just tolerating Ferrari's EV pivot — they're bidding aggressively for it.
Shifting to the Pacific, President Trump has scaled back joint military exercises with South Korea, echoing Pyongyang's language almost word for word — calling the drills inappropriate and hostile toward what he described as an unthreatening North Korea. That framing is notable. It suggests Washington is actively shaping the diplomatic atmosphere ahead of any renewed talks with Kim Jong Un, and markets sensitive to Korean peninsula risk will be watching closely.
Meanwhile in Asia, Indian equities opened lower Monday as tensions around the Strait of Hormuz weighed on sentiment. Uncertainty surrounding U.S.-Iran negotiations is keeping energy traders on edge, and with the strait handling roughly a fifth of global oil flows, any escalation there carries real inflationary consequence for import-dependent economies like India.
That's the tape. Markets Desk, signing off the floor.
