U.S. Airstrikes on Iran and Planned Naval Blockade Lift Oil 9% as AI Memory Stocks Slide

The United States carried out airstrikes on Iran for a third consecutive night and said it will implement a naval blockade, moves that coincided with a 9% surge in crude oil prices. According to PANews, the market reaction included gold falling below a key level, while the U.S. dollar and U.S. Treasury bonds rose. The report also said the probability of a U.S. interest-rate hike in July is nearing 50%. In equities, SK Hynix’s ADR fell 9% on its second trading day, weighing on global AI memory-related stocks. SpaceX shares declined for a second straight day, bringing the two-day drop to nearly 9% and pushing the price close to its IPO issue level of $135. Separately, U.S. solar company Sunrun was reported to be entering the computing-power sales business.