US and Iran traded attacks for the first time in a month, pushing oil higher and most US stocks lower, while Nvidia's big bet on MediaTek lifted chip names in Taiwan.

• Renewed Middle East fighting drove up oil, and investors worry that feeds inflation, so most Wall Street indices fell; only the chip index edged up.
• Nvidia is putting $3.5 billion into convertible bonds from Taiwan's MediaTek, deepening a partnership on AI infrastructure, edge computing, and car chips.
• Some see it as another example of AI companies funding their own customers, a circle of money that flatters demand.
• Taiwanese circuit-board maker Unimicron crashed to its daily limit after a raid over accusations it disguised the origin of its products, dragging down several funds that hold it.
• Chinese robot maker Unitree has lost almost half its value in eight trading days since listing, wiping out huge amounts of market value.

Outlook: Oil and inflation fears will steer stocks near term, while Taiwan's AI names ride the Nvidia money and investors chase high-yield funds and bonds for shelter.