The benchmark S&P 500 was flat as gains in technology stocks offset broader market losses stemming from worries that a prolonged Middle East conflict could disrupt global trade routes and reignite inflationary pressures.
Crypto investment products recorded their first weekly inflows since January, snapping a five-week outflow streak totaling roughly $4 billion. Crypto exchange-traded products attracted $1 billion last week, led by $882 million into Bitcoin funds.
Sterling hit a 2 and a half month low against the dollar and edged down versus the euro, as the Iran conflict sent investors into safe‑haven assets while concerns over the Bank of England’s policy path weighed on the British currency.
Elon Musk’s SpaceX is aiming to file confidentially for an initial public offering that could value the rocket and satellite company at more than $1.75 trillion. The filing could come as soon as this month.
Financial and tech stocks were hit hard by a handful of persistent investor worries on Friday, with U.S. stocks suffering their largest monthly percentage declines in a year. All three major indexes ended decisively lower and posted steep weekly declines.
El Salvador-based stablecoin issuer Tether said it has frozen about $4.2 billion of its crypto tokens over links to “illicit activity”, mostly in the past three years, as authorities around the world try to crack down on crypto-related crime.
