Oil Prices Surge and Global Markets Falter Amid Hormuz Tensions

Wall Street absorbed the impact as the Dow Jones Industrial Average retreated 138.37 points, a 0.3% decline led primarily by a sell-off in technology shares. The flight from risk hit semiconductor and artificial intelligence sectors particularly hard, fueling a broader market downturn that saw South Korea’s KOSPI index plummet nearly 9%.

As crude prices climbed, inflation fears resurfaced, pushing U.S. Treasury yields and the dollar higher. The shift in capital away from speculative assets prompted a decline in precious metals, including gold and silver, as markets recalibrate for a period of heightened geopolitical instability.