Global Markets Retreat as Mideast Tensions Surge 📈

Wall Street eased from record highs on Monday as heightened tensions in the Strait of Hormuz threatened the fragile US-Iran ceasefire. The Nasdaq is currently on track to snap a 13-day winning streak. • Market Performance: • Dow Jones: ⬇️ 0.23% to 49,336.11 • S&P 500: ⬇️ 0.25% to 7,108.27 • Nasdaq: ⬇️ 0.41% to 24,368.49 • Energy & Commodities: • Crude Oil: US crude jumped 5.15% to US$ 88.21 per barrel; Brent rose 4.96% to US$ 94.86. • Gold: Prices softened slightly, with spot gold falling 0.31% to US$ 4,813.55 per ounce as Treasury yields edged higher. • Currency & Yields: • US Dollar Index: ⬇️ 0.3% to 98.16. • 10-Year Treasury Yield: ⬆️ to 4.266%. • Economic Impact: For Sri Lanka, the spike in global oil prices remains a critical factor for energy costs and transportation, while geopolitical instability in the Middle East poses risks to remittances and trade logistics through key maritime routes. European shares also slid following Iran's refusal to engage in further negotiations.