Asian stocks extended their slide as the war in Iran threatens global inflation and prompts traders to pare bets on Federal Reserve interest-rate cuts. Oil prices edged up amid concerns over shipping through the Strait of Hormuz, while gold rebounded. Markets are reacting to escalating regional tensions and potential supply disruptions.
US stocks today: S&P 500, Nasdaq end higher, notch weekly gains after earnings-heavy week
The S&P 500 and Nasdaq reached record highs, fueled by strong earnings and falling crude prices, marking their longest weekly gain streak since October 2024.