Oil Jumps on Iran Attack; AI Stocks, Yields Spike
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- Oil prices surged after Iran attempted a 'surprise attack,' while Asian shares were mostly lower and chip stocks slumped further as the AI sell-off continued.
- US Treasury yields spiked, with the 30-year yield hitting a 2007 high, as stocks attempted a post-earnings recovery amid the broader market turbulence.
Why it matters: Geopolitical risk is pushing crude higher while long-term US borrowing costs hit a level unseen since 2007, compounding pressure on AI and chip stocks already in a sell-off — a rare convergence where energy, bonds, and tech equities all move against risk appetite simultaneously.
