Global markets navigate geopolitical tensions and trade uncertainty. Oil prices surged past $80 per barrel following Iran conflict escalation, with U.S. West Texas Intermediate posting its largest single-day gain since May 2020 before easing Friday. Wall Street declined as energy supply concerns weighed on investor sentiment, with the Dow falling 1.61% and the S&P 500 dropping 0.56%. Asia-Pacific markets showed resilience with mixed results. South Korea's Kospi reversed earlier losses to finish marginally higher, while defense stocks rallied on reports of successful missile interception. Japan's Nikkei and Hong Kong's Hang Seng also posted gains. Trade tensions mounted as state attorneys general sued to block Trump's tariff regime, adding to market uncertainty. Energy and cyclical stocks faced pressure amid recession concerns.
