The Rundown Stocks Drop After Israel Strikes Iran, Meta 'Acqui-hires' Scale AI CEO
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Jun 13, 2025 Geopolitical tensions are shaking up global markets, with Israel's airstrike on Iran impacting oil prices and U.S. stocks. There's concern in the tech sector as shares drop despite solid earnings, raising fears over AI disruptions. Listeners weigh in on the TikTok ban and Apple's potential shift towards military applications with their Vision Pro headset. Future innovations, including budget-friendly versions of the headset, are under discussion, along with insights into stable coins and Circle stock.
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Markets React to Middle East Tensions
- Israel's airstrike on Iran spiked oil prices by over 8% and rattled global markets.
- The S&P 500 and NASDAQ were down more than 1% in pre-market trading as investors grew jittery.
Apple's Strategic iPhone Exports
- Apple now sends nearly all iPhones made in India to the US to avoid steep Chinese tariffs.
- This shift saves money but could face scrutiny from President Trump, who prefers US manufacturing.
Meta's Bold AI Investment
- Meta invested $14.3 billion for a 49% stake in Scale AI, mainly to hire its CEO and key AI experts.
- This move shows Meta's deep commitment to advancing AI, despite Scale AI's reputation as data janitors.