Commodities
AI Fears, Oil Volatility Send Asian Stocks Plummeting
Stocks in Asia skidded lower on Friday as concerns over an artificial intelligence bubble weighed on investors, while oil prices retreated for the first time in a week amid ongoing tensions in the Middle East.
Brent crude fell 2.6% to $97.67 per barrel after reaching $102 per barrel just a day earlier, and U.S. benchmark crude slipped $2.43 to $89.76 per barrel.
The decline came as heavy fighting in the region threatened to slow the global flow of oil and gas, with U.S. President Donald Trump vowing 'major military punishment' against Houthi rebels if they continue attacking ships in the Red Sea.