Oil Climbs Above $111 as AI Stocks Slide, Dragging the S&P 500 and Global Markets With Them
Summary
Brent crude prices reached a five-month high as major chip stocks and technology companies experienced a significant decline. This downturn weighed heavily on Asian benchmark indexes and global markets, following a sharp drop in South Korea's Kospi index the previous week.
Brent crude hit a five-month high while Nvidia, Meta and chip stocks fell, pulling Asia's benchmark indexes down by up to 3.5% a week after South Korea's Kospi plunged 7.57%.
Source: Read the full story at Decrypt
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