Oil Prices Spike as Middle East Conflict Rattles Global Markets

Tech stocks are bearing the brunt of the market instability, exacerbated by a broader investor exodus. Market participants are rotating capital ahead of the SpaceX IPO, widely projected to become the largest public offering in history. This shift in liquidity, combined with Oracle’s disclosure of aggressive capital expenditure plans, triggered a sharp sell-off in the company’s share value.

Currency markets reflect the underlying tension, with the euro making marginal gains against the dollar ahead of the European Central Bank’s upcoming policy decision. Despite this, the greenback retains its strength as a geopolitical hedge. While U.S. Treasury yields have ticked upward, the immediate outlook remains dominated by the risk of further escalation in the Persian Gulf.