📈 Global Stocks Slide as Gulf Tensions Trigger 4%+ Oil Surge

Global markets fell sharply on Monday as escalating conflict in the Gulf and Iran’s claimed closure of the Strait of Hormuz fueled a surge in energy prices, renewing global inflation concerns. • Energy Markets Spike: Brent crude surged 4.3% to US$ 79.31 a barrel, while US WTI climbed 4.4% to US$ 74.62. This rapid rise directly impacts energy-dependent economies like Sri Lanka, increasing global trade and import cost pressures. • Asian Equities Tumble: South Korea's KOSPI plunged 7.6%, extending steep losses in tech and semiconductor stocks. Japan’s Nikkei fell 2.2%, while the broader MSCI Asia Pacific index outside Japan dropped 1.8%. • US & European Outlook: US futures pointed lower (Nasdaq futures down 1.3%, S&P 500 futures down 0.6%). European markets are also set for weaker openings, with the Euro under pressure due to Europe's heavy reliance on imported energy. • Bonds & Currencies: Higher oil prices pushed US Treasury yields higher as investors dialed back expectations for Federal Reserve policy easing. The US Dollar index remained firm at 101.13, while investors shifted toward safe-haven assets. _Context_: For Sri Lanka's economy, global market volatility and rising oil costs historically exert pressure on import bills and foreign reserves, despite ongoing national efforts in industrial diversification.