The AI Selloff Started in Seoul. Korea's KOSPI fell 8% on Tuesday and tripped a circuit breaker, SK Hynix and Samsung down more than 12%, and not one input to that crash was Korean. The index is still up roughly 80% on the year even after the plunge, Taiwan is up better than 50%, and mainland China sits flat. The consensus calls it

Tuesday found the fault line Monday's calm was hiding. South Korea's KOSPI fell 8% and tripped a circuit breaker, SK Hynix and Samsung down more than 12%, and the shock rolled west into a Nasdaq rout. Nothing broke inside the AI models. The money that builds them got more expensive. Traders now pric

Monday's reopen after the five-day break split the tape: small caps broke a record while megacap tech bled from an AI talent exodus. But the day's real tell was what each resolution did with its risk rather than to it. The Iran roadmap drained the war premium and handed it to the bond market, calm i

Peace Broke the Bull Case. The Russell clearing 3,000 while the Nasdaq slips is the widest small-over-large split in months, duration beating growth. Brent off a tenth with the 10-year stuck at 4.50% says disinflation is here and the long bond won't celebrate. Bitcoin over 65,000 with Ethereum near 1,760, both up about 2% on

The US tape has not traded since Thursday. In the dark, the Switzerland round stalled without quite breaking, Iran declared the strait shut again while the oil kept moving through it, and a Fed that just penciled a 2026 hike watched the only inflation it is fighting roll over. Monday's open has to p

Five Days, One Open. Five days clear into one open, so Monday's candle holds more risk than the four quiet sessions before it. Bitcoin looks firm near 63,000, but a record thirty-day ETF exodus underneath means price and positioning have split. Gold near 4,150 against a one-year-high dollar is collateral strain abroad,

Markets have not moved since Thursday's close. A collapsing Iran track, a silent Fed, and a minerals policy that deepens the dependence it claims to cure. The repricing starts Monday, and four days of accumulated news arrives at once.

What Monday Prices. Washington's answer to Chinese mineral leverage is the familiar trio: stockpile, subsidize, reshore. It is now pointed at gallium, the metal the AI power grid runs on, where China makes about 98%. The plan treats gallium like oil, a thing you make more of if you pay enough. But gallium is not mined.

The Iran deal signed Wednesday collapsed before its own ceremony, with Geneva postponed and the ceasefire it was meant to stabilize fraying on the Lebanese border. Strategy's perpetual-preferred stack crosses $10 billion into a hawkish rate regime that raises its funding cost at the worst moment, an

Nothing Settled. The Iran nuclear MOU signed Wednesday collapsed before its own Geneva ceremony. The signing was downgraded to a conditional meeting, CENTCOM lifted its naval blockade of Iranian oil even as the framework dissolved, and the Israel-Hezbollah ceasefire it was meant to stabilize began fraying on the Leb