Global Stocks Rise as Oil Prices Fall Amid Strait of Hormuz Talks

Global stock markets mostly rose on Wednesday as investors monitored talks aimed at reopening the Strait of Hormuz, which remains largely closed due to the war in Iran.

The global interest in artificial intelligence supported buying of tech shares, but markets have generally moved in a narrow range ahead of Nvidia's release of its earnings report later in the day. The chipmaking giant's results could have a big impact on confidence in the sustainability of the boom in AI investments.

Falling crude prices also brightened investor sentiment in oil-importing nations like Japan, which imports virtually all its oil. Brent crude oil lost 2.8% to $84.81 a barrel and benchmark U.S. crude dropped 3.1% to $79.80 a barrel.