Oil rises and stocks fall as Hormuz worries flare
Summary
Oil prices rose and global stocks fell as fresh concerns over attacks in the Strait of Hormuz rattled markets. Investors also piled back into AI-related tech shares, with Nvidia pushing toward a record market value.
Key Points
- Oil prices rebounded as reports of increased attacks on tankers in the Strait of Hormuz revived supply fears.
- Global stock markets mostly fell, even as Wall Street hit new records on strength in AI-linked tech shares.
- UK Maritime Trade Operations reported nine attacks so far this month in the Strait of Hormuz and the Gulf combined.
- Nvidia surged toward a $6 trillion market capitalisation, while reports said SpaceX was seeking $40 billion to buy Nvidia chips.
