Overview
- U.S. Central Command confirmed it carried out strikes for a ninth consecutive night and Iran responded with regional attacks that have killed U.S. service members and raised the risk of broader fighting.
- Iranian reports and the UK Maritime Trade Operations said at least one tanker was on fire in the Strait of Hormuz and vessel traffic through the waterway has slowed to a trickle.
- Brent crude briefly rose above $90 a barrel before easing after Iran said back‑channel mediators remained active, sending an energy risk premium through markets.
- Asian equities were weak with India’s rupee and major banks under pressure, global chip and AI stocks have plunged in recent weeks, and long‑term Treasury yields moved higher as investors priced greater inflation risk.
- A packed week of tech and AI earnings, including Alphabet, Intel and Tesla, could amplify market swings and will be watched for signs that AI spending justifies current valuations.