Global stocks wobble as Iran-US strikes lift oil above $94
Why it matters: Brent jumped as much as 6.5%, fueling inflation worries and pressuring bonds even as AI-linked shares stayed strong.
Global stock markets turned choppy at the start of the week as fresh US and Iranian strikes pushed oil prices sharply higher and clouded hopes for a deal to reopen the Strait of Hormuz. Brent crude traded above $94 a barrel and at one point rose more than 6%, reviving concerns that higher energy costs could feed inflation and keep interest rates elevated.
The MSCI All-World index hovered near record highs, while European shares fell and Asian markets swung between gains and losses. Energy stocks outperformed, but airlines and other fuel-sensitive sectors came under pressure. Investors were also weighing conflicting signals on US-Iran talks, with reports that Tehran had halted negotiations while Donald Trump later said discussions were continuing. Demand for AI-related stocks helped limit the broader sell-off.