Global markets experienced significant turmoil on Monday as tensions between the U.S. and Iran escalated. Stocks fell while oil prices surged, driven by renewed exchanges of missile and drone attacks, with Iran closing the crucial Strait of Hormuz.
President Trump’s announcement of a U.S. naval blockade on Iran further spiked energy prices, compounding investor fears and uncertainty surrounding Middle East geopolitics. Wall Street saw notable declines in major indices, with technology stocks, particularly semiconductors, taking a hit.
Bond yields rose amid concerns over inflation and future Federal Reserve policies. Meanwhile, currency markets reacted to the geopolitical tensions and Britain’s impending political transition, adding to the fluidity of the financial landscape.
(With inputs from agencies.)