Global markets fell sharply on Monday as oil prices surged past $112 amid fresh Iranian drone attacks and rising Middle East tensions, while Tesla's after-hours slide added to the sell-off.
Follow the storyMiddle East3 stories
01Summary
- 01S&P 500 futures dropped more than 1% and Nasdaq futures fell 1.82% before the New York open.
- 02Oil rose to $112 a barrel after the Houthis struck Saudi airports and the Aramco Shaybah oil field, and Iran launched four drones in the Strait of Hormuz in 24 hours.
- 03China's CSI 300 index fell 1.84%, down 15% year to date, as supplies from Iran's shadow fleet were exhausted.
- 04Tesla lost 5.35% in after-hours trading after cutting its 2026 capex guidance from $25bn to $20bn, raising doubts over its AI and robotics transition.
- 05France's 10-year bond yield hit 5.1%, its highest since 2002, as traders remained sceptical about the country's fiscal crisis.
02Why it matters
Weakening markets and rising oil prices will push up costs for businesses and consumers worldwide, particularly in Asia, which relies on imported fuel.
Pulse AIAsk about this story
Answers are generated by AI from the story summary; they are not investment, health or legal advice.
