Friday

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Friday 💀: Markets sold off for a fourth straight week as Trump told reporters he does not want a ceasefire with Iran, gold posted its worst week since 1983 down -9% to $4,500, and traders flipped to pricing a 50% chance the Fed hikes by October after spending last month pricing June cuts. The Dallas Fed warned a Hormuz shutdown through June would shave 2.9 percentage points off global GDP in Q2. Super Micro cratered -33% after federal prosecutors charged its co-founder with smuggling Nvidia servers to China, handing Dell an instant market share windfall, while AleAnna surged +87% as missile strikes on Qatar's LNG facilities made Italian domestic gas assets the most valuable acreage nobody had priced in. Chuck Norris died at 86.

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