Asian Shares Slide on Oil Spike and Rate Hike Risks
Asian share markets fell as Middle East oil supply concerns drove crude prices higher. Investors also braced for potential interest rate hikes from both the US Federal Reserve and the Bank of Japan.
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Asian share markets slid during Monday morning trade as artificial intelligence stocks retreated and energy supply fears in the Middle East pushed oil prices higher. The downturn preceded pivotal central bank meetings in the United States and Japan where investors anticipate higher interest rates. Geopolitical tensions in Saudi Arabia and the Gulf region compounded market pressures, driving up commodity costs and stoking global inflation concerns.
