Asian Stocks Slide as Brent Crude Nears $100 a Barrel Amid Middle East Tensions

Asian stocks fell on Friday as Brent crude oil neared $100 a barrel due to rising tensions in the Middle East. The price of Brent crude had surged to its highest level since May, reaching $102 per barrel before settling at $100.69 per barrel, up 7%. The increase was driven by attacks on two Saudi oil tankers in the Red Sea and concerns over the global flow of oil.

The US dollar also hit a 40-year high against the Japanese yen, with one dollar buying 163.79 yen early Friday. This came as US stocks fell under the pressure of rising oil prices, which raise costs for businesses and cut into their customers' ability to spend.

Tesla and Alphabet, two of Wall Street's most influential companies, tumbled after reporting weaker profits than analysts expected. Tesla's stock fell 14.5% while Alphabet's stock dropped 7.1%. The US is also imposing tariffs on imports from 60 trading partners, accounting for 99% of US imports.

The rising uncertainty has pushed investors to focus on the potential impact of higher oil prices and inflation on economies and investments. This includes concerns over a potential bubble in artificial intelligence investments and another round of tariff hikes by US President Donald Trump.