Volatile Oil Prices and Selloffs Send Global Markets into Turmoil

Oil prices remained volatile on Thursday, trading between gains and losses amid ongoing tensions in the Middle East. Brent crude slipped 0.2% to $87.92 per barrel after rising earlier in the day.

The U.S. said it conducted a 'heavy wave' of strikes against Iran in response to an attack on a U.S. base, which has contributed to the uncertainty surrounding oil prices.

Meanwhile, world shares were mixed, with South Korea's Kospi falling 1.2% after losing more than 16% over the past two days due to selling of stocks related to artificial intelligence.

The tech-heavy Nasdaq composite index lost 5.5%, with chipmaking big names such as Nvidia and AMD shedding 3.6% and 5.5% respectively.