Stocks dip and oil rises amid renewed Middle East conflict
European and U.S. futures fell on Wednesday after an Iranian missile attack on Kuwait's airport stalled peace talks and pushed Brent crude prices up 2% to $98 a barrel. The OECD warned that continued conflict could slow global growth to levels rarely seen outside of major financial crises. Meanwhile, AI-driven gains lifted Japanese and Taiwanese indexes to record highs despite broader market caution.
United States futures and European equities fell Wednesday as rising oil prices and renewed Middle East hostilities pressured global markets. The STOXX 600 dropped 0.4% and S&P 500 futures slipped 0.1% after an Iranian missile strike damaged a Kuwaiti airport. The escalation threatens to reignite global inflation and slow economic growth to rates rarely seen outside of major financial crises.
### Gulf Tensions Drive Energy Gains Oil prices rose for a third consecutive session after an Iranian missile strike damaged an airport in Kuwait. The U.S. military responded with strikes near the Strait of Hormuz, testing a fragile ceasefire that had briefly buoyed market sentiment last week. Brent Crude Oil up 2% to $98 a barrel, approaching the $100 threshold.
