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SpaceX is set to list on the Nasdaq after raising $75 billion in the world’s largest IPO, with shadow markets indicating a potential 35% jump on debut. This highlights strong investor appetite for AI and space infrastructure assets and could set a positive precedent for future mega-IPOs.

Global equities remain under pressure as the technology-led selloff deepens and geopolitical risks re-escalate. The MSCI All Country World Index slipped 0.3%, falling to its lowest level in over a month, while Asian equities dropped to a three-week low after US forces launched fresh strikes on Iranian targets, effectively undermining the April ceasefire.

USD/JPY remains one of the key focal points across FX markets as the pair continues to trade near the line-in-the-sand level of 160.00. Investors remain alert to the possibility of official Japanese intervention should the pair break higher.