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US-Iran Clashes Hit Asian Stocks, Oil Prices Soar
Description
Asian and European stocks plummeted today due to escalating US-Iran tensions in the Strait of Hormuz, causing oil prices to surge past $100 a barrel. Despite a fragile truce, dueling blockades in the Gulf have traders on edge. S&P five hundred companies reported strong earnings, with 83% beating profit estimates and 78% exceeding revenue forecasts. US Nasdaq and S&P futures rose slightly, driven by AI spending in tech. Gold prices increased as safe-haven buying surged, and all eyes are on Fridays US jobs report for insights into Fed policy amid energy-driven inflation.
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