Daily Digest — 30 Apr 2026

Oil markets dominated global financial headlines today as Brent crude surged past $126, hitting four-year highs amid reports that the US military prepared to brief incoming officials on potential strikes against Iran. The 2.8% jump reflected escalating tensions in the Gulf, while broader markets showed mixed reactions to the geopolitical uncertainty.

Technology giants faced a reckoning as AI spending concerns weighed on valuations. Meta’s stock dropped after reporting that “internet disruptions” in Iran contributed to disappointing user numbers, while Microsoft called for $190 billion in capital expenditure for 2026, well above Wall Street expectations. The tech spending surge reflects the industry’s massive bet on AI infrastructure, even as SoftBank announced plans for a robotics company focused on data center construction.

Crypto markets retreated from recent highs, with Bitcoin falling 2.2% to \(75,579 and Ethereum dropping 3.7% to \)2,243. The pullback came as traditional safe havens like gold remained relatively stable, while Tether proposed a three-way merger to combine bitcoin treasury, mining, and financial services operations.

In the UK, political tensions emerged as senior ministers criticised Chancellor Rachel Reeves’s reported rent freeze plans, while Reform UK’s Nigel Farage faced investigation over an undisclosed £5 million gift from a crypto tycoon. Meanwhile, New Zealand’s courts denied an appeal from the Christchurch mosque shooter, upholding his conviction for the 2019 attacks that killed 51 Muslim worshippers.