Key Facts
What the world’s markets decided. The mood flipped from fear to greed. A US–Iran ceasefire breakthrough pulled oil down about 20% from its highs, the inflation scare faded, and Wall Street roared to record highs led by chips — the S&P 500 +1.08% to 7,500, the Nasdaq +1.91% and the Nasdaq 100 +2.48%, with the fear gauge calm at 16.78.
What led the charge. This was an artificial-intelligence rally, pure and simple. Semiconductors surged (the chip group SMH +5.76%, Broadcom +4.70%, Nvidia +2.95%, Taiwan’s TSMC +6.94%), while the steadier corners were left behind — banks −0.89%, energy −1.65% and healthcare −0.87% all fell.
How Asia split. Asia divided cleanly along the chip line. The chipmakers’ homes soared — Taiwan +2.75% and Japan’s Nikkei +1.57% to fresh records, with Korea steady — but the rest fell, with Hong Kong −0.94%, China −1.04% and Indonesia −1.25%.
The clue in the wider scan. The backdrop turned friendly. Oil sits near $115 after its slide, gold barely moved (−0.38%), US bonds firmed as rate fears eased, and crypto rose (Bitcoin +1.38%) — the calm, risk-on mix that lets an AI rally run.
