Geopolitical Risk Drives Flight to Hard Assets, Pressures AI-Led Rally

Iran conflict escalation is creating risk-on/risk-off whipsaws, with 10-year yields climbing to 4.54% and oil near $109, pressuring AI and tech stocks that have led the digital transformation narrative. Simultaneously, macro uncertainty is strengthening the 'hard money' thesis, driving allocation toward gold, silver, and crypto as hedges against fiat debasement.