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US Tech 100 AI Rally Pauses as Middle East Ceasefire Hits 'Life Support'

Global markets shifted cautious as US Tech 100's AI-led rally paused amid reports of a Middle East ceasefire on 'life support,' cooling earlier optimism. The index and S&P 500 had surged to record highs earlier on May 12, driven by AI enthusiasm despite fragile US-Iran truce risks. Pressure mounted from oil climbing toward $105/bbl (+3%), Japan 10Y yields at 29-year high of 2.54%, USD/JPY at 157.53, and looming US April CPI (exp. 3.7% y/y) that risks delaying Fed cuts. S&P 500 futures slipped 0.2% while Asian shares fell.

Category

US Tech 100

Sentiment

Bullish

Event

Price milestone

Reading time

1 min