Oil Prices Crash as Iran Tensions Ease Amidst Market Volatility

Oil prices plummeted 5% as markets reacted to the pause in US-Iranian hostilities, with Brent crude falling to $85.49 per barrel and US benchmark crude dropping to $83.06.

The Pentagon's decision not to respond to questions about the pause in attacks on Iranian coastal areas and infrastructure sparked relief among investors, who saw it as a sign that tensions may be easing.

Meanwhile, Chinese memory chipmaker CXMT made its trading debut on Shanghai's technology board, with shares soaring 466% to become China's most valuable listed company, estimated at 3.3 trillion yuan ($490 billion).

The company's success was a bright spot in an otherwise uncertain market, which has been grappling with rising energy prices and inflation concerns.