Global equities climb as AI stocks steady and oil prices rise on Middle East tensions
European tech shares led a modest global market gain, while oil prices rose after attacks on vessels in the Strait of Hormuz.
European technology equities were among the day's top performers, following a rebound in Asian markets where Samsung Electronics and SK Hynix posted gains, and an upbeat outlook for ASML, whose shares rose 1.4%. The STOXX 600 index advanced 0.5% and the MSCI All-World index edged up 0.1%. Oil markets reacted to attacks on two vessels in the Strait of Hormuz, with Brent crude futures rising more than 0.5% amid fears of further supply disruptions.
Government bond yields eased, with the 10-year Treasury yield slipping a basis point to 5.21%. Investors are focused on the upcoming U.S. consumer price index release, which is expected to show higher inflation driven by energy costs. Bank earnings, starting with Bank of America, are also on the agenda, while U.S. dollar strength remains modest.
Why it matters
The story shows how AI optimism and geopolitical risks are shaping global markets and influencing investor sentiment.
How this story developed
- Oct 2 Seoul market slips modestly as US stocks close higher
- Oct 8 The market recorded a third straight day of losses.
- Oct 13 South Korean equities fell over 3% as Asian markets slipped, mirroring a 2.7% drop in a US semiconductor index and fading AI optimism.
- Oct 13 The decline continued a multi‑day slide in the index.
- Oct 14 US semiconductor index fell 2.7% and the Nasdaq 100 slipped 0.7%, widening the regional decline.
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