Global markets caught in ceasefire uncertainty as geopolitical tensions shake investor confidence. Asian stocks declined sharply Thursday with Japan's Nikkei falling 0.7%, South Korea dropping 2.7%, and Hong Kong sliding 1.7%. The broader Asia-Pacific index is tracking its worst monthly performance since October 2022. Meanwhile, crude oil surged above $104 per barrel as Iran's closure of the Strait of Hormuz disrupts global energy supplies. Brent crude futures jumped over 2% daily and are up 43.6% for the month. Conflicting statements from U.S. and Iranian officials over ceasefire negotiations have left traders cautious. While Iran signals willingness to negotiate, contradictory messaging continues to unsettle markets. The dollar strengthened as investors seek safe-haven assets amid ongoing uncertainty.
