Global Markets Reel as Oil Prices Swing Amid US-Iran Tensions

Oil prices were volatile on Thursday after the U.S. conducted a 'heavy wave' of strikes against Iran, in response to an attack on a U.S. base. Despite this, Brent crude slipped 0.2% to $87.92 per barrel, while benchmark U.S. crude lost 0.3% to $84.25 per barrel.

Global shares were mixed, with the S&P 500 futures up 0.4%, and the Dow Jones Industrial Average gaining 0.2%. In Asia, South Korea's Kospi fell 1.2% to 5,593.56, following a decline of over 16% in two days due to selling of AI stocks.

Nvidia lost 3.6% and AMD shed 5.5%, while Broadcom declined 2.8%. The Federal Reserve's decision to hold interest rates steady amid some members' desire to raise them may lead to more volatile trading, according to Chairman Kevin Warsh.