Asian markets surged today, led by South Korea’s Kospi and Tokyo’s Nikkei, as AI stocks drew renewed investor interest — even as U.S. futures wobbled. Oil prices hit a multi-month high near $97 a barrel, fueled by Iran’s ongoing disruption of Persian Gulf shipping lanes, sending ripple effects through global supply chains and consumer costs. Wall Street remains focused on whether AI’s massive investments will translate into real profits, causing tech stocks to swing wildly. Meanwhile, the U.S. dollar strengthened against the yen, nearing a 40-year high, as diverging interest rate expectations keep investors guessing — with the U.S. likely to hold rates higher longer amid stubborn inflation.
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