Asian equity markets fell sharply on Monday after a flare-up in U.S.-Iran tensions drove crude oil prices higher, stoking inflation fears and hitting technology shares. South Korea's KOSPI led the regional decline, plunging more than 5% amid a sell-off in major chipmakers.
Gold is trading in a tight range below the critical $4,150 resistance level, with technical analysis pointing to a developing bearish pennant pattern. Traders are watching for a potential breakdown that could extend the recent downtrend.
Russia has suspended maritime traffic through the Don-Azov channel, a vital grain export route, following a reported Ukrainian attack on Russian vessels in the Sea of Azov.
Gold fell on Monday as a spike in oil prices, driven by renewed U.S.-Iran strikes, fueled concerns about a new inflation shock that could keep Federal Reserve interest rates elevated.
The U.S. Treasury Department has targeted a key financier for Iran's Supreme Leader and 13 other entities in a new round of sanctions following recent attacks on oil tankers in the Strait of Hormuz.
Crude benchmarks jumped after the U.S. and Iran reportedly launched attacks, raising concerns over potential supply disruptions through the critical Strait of Hormuz.
Cryptocurrency exchange Bybit announced its Private Wealth Management BTC funds achieved a 4.9% comprehensive annualized return over the past 60 days, as the firm broadens its suite of yield-generating products for Bitcoin holders.
Technology investors are scrutinizing the massive capital expenditures required for AI development, which could pressure earnings and limit share buybacks despite strong long-term demand, according to a recent analysis.
European natural gas prices retreated on Friday after shipping data confirmed that Qatari LNG tankers are still navigating the Strait of Hormuz, easing immediate supply fears despite escalating military tensions in the Middle East.
