Oil climbed and stocks fell after US forces launched fresh strikes on Iran, reviving geopolitical risks at a time when markets are already grappling with a selloff in richly valued technology stocks.
Brent crude rose over2% to near $95.20 a barrel after the US military launched strikes on multiple targets in Iran for a second straight day. MSCI’s gauge for Asian equities dropped 1%, setting the gauge up for a fifth loss in six days. Tech stocks remained under pressure with South Korea’s Kospi Index, a bellwether for the artificial-intelligence trade, dropping over 4%.
