WS #10541

The dominant theme remains the intensifying tech selloff, with the QQQ down 3.5% and semiconductor stocks under renewed pressure. However, several high-significance developments emerge in this window. SpaceX raised $25B in a debt sale after $90B in orders, less than two weeks after its IPO, signaling massive institutional demand for the newly public SPCX. Separately, SpaceX signed a compute deal with AI startup Reflection worth up to $6.3B for Nvidia GB300 chips, providing a direct catalyst for NVDA. On the geopolitical front, Trump issued a 24-hour ultimatum to Iran threatening 'one of the most destructive airstrikes ever,' escalating Middle East tensions and pushing tanker rates to $190,500/day. However, Trump also stated the US is 'getting along quite well' with Iran and working on a fair deal, creating mixed signals. Putin signaled Russia is ready for peace talks on its own terms, a potential de-escalation in the Ukraine conflict. The Tesla FSD crash investigation intensifies as NHTSA probes a fatal Texas crash, with Tesla claiming the driver manually overrode the system. Argentina's Q1 GDP beat expectations at +2.3% vs 1.7% polled. Consumer staples are rising as a defensive rotation from AI trade. The tech selloff narrative is ESCALATING, but the SpaceX/NVDA deal and Iran mixed signals provide counterpoints.