Markets are in turmoil as oil surges past $100 a barrel amid escalating Gulf conflict, with U.S. strikes and Iranian retaliation rattling global supply chains and sending Brent crude up nearly 40%. Geopolitical risks, paired with looming U.S. tariffs on 60 countries, are fueling inflation fears and pushing borrowing costs to multi-year highs. Investors brace for aggressive Fed rate hikes—now a one-in-three chance as soon as next week—while tech earnings from Alphabet and Tesla, heavy on AI spending, further spook the market. The perfect storm of oil, war, and policy is sending shockwaves across Asia and Wall Street, leaving investors nervously eyeing the economic horizon.
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