Middle East Violence Sends Oil Prices Soaring, Stocks Sliding

Oil prices surged by 2% on Tuesday as violence in the Middle East escalated, causing uncertainty over the future of the conflict. The uptick in oil prices was likely due to concerns about supply disruptions, which could impact global markets.

The volatility also spilled over into stock markets, with shares in several companies experiencing significant losses. Shein, an online fast-fashion retailer, saw its shares fall by as much as 10% after it began trading on the Hong Kong exchange. The company's shares eventually closed 4% lower.