The Dow
Global stock markets fell sharply as oil prices surged amid the escalating conflict with Iran, increasing fears of energy supply disruptions. U.S. markets dropped at the opening bell, following losses the previous week, while European and Asian markets also tumbled, especially in energy-dependent economies like Japan, South Korea, and Taiwan.
Oil prices climbed above $100 a barrel for the first time in nearly four years after Middle Eastern producers reduced output and the war raised concerns about shipments through the Strait of Hormuz. The spike in energy costs pushed bond yields higher as investors worried about renewed inflation.
Technology and semiconductor stocks in Asia were hit particularly hard, as rising energy costs and uncertainty about the global economy rattled investors. Overall, markets around the world reacted nervously to the expanding conflict and the risk of prolonged disruption to global energy supplies.
That's absolutely fabulous! Thanks for the very much-needed laugh, though that's for the art rather than the situation.
Love this!
Bondi will never live that (Dow comment) down and, in a matter of days, it proved to be a foreshadowing of how rapidly the market can also completely reverse itself, when it anticipates uncertainty.