SK Hynix Slumps in US Market, Oil Prices Soar amid Iran War | Bloomberg Businessweek Daily 7/13/2026

Summary

The episode covers the sharp selloff in SK Hynix and semiconductor stocks amid doubts about the AI boom, a major oil price surge driven by a US blockade of the Strait of Hormuz against Iran, state antitrust lawsuits challenging the Paramount-Warner Bros merger, a surge in US corporate M&A activity, and MassMutual's CEO discussing cautious consumer optimism.

• SK Hynix ADR slumps over 6% on its second US trading day, leading a broad semiconductor selloff.
• Oil prices jump nearly 10% after the US announces it will resume a blockade of Iranian ports in the Strait of Hormuz.
• Strategist Julie Biel warns that the economics of AI infrastructure spending remain unclear and use cases haven't delivered as expected.
• A coalition of 12 states sues to block the Paramount-Warner Bros deal, alleging harm to consumers and competition.
• M&A activity booms, with North American deal volume up 63% year-over-year, driven by a permissive antitrust environment.
• MassMutual CEO Roger Crandall describes customers as 'cautiously optimistic', noting strong demand for annuities and private assets.
• AI adoption accelerates inside firms, with 75% of MassMutual employees using AI tools daily.