Oil Price Surge Dents Risk Sentiment as Equities Fall

Risk sentiment has taken a hit due to escalating US-Iran tensions and the resulting surge in oil prices. The price of oil has broken above the $90 level, which is a significant development that could weigh on demand and fuel inflation concerns.

The S&P 500 has fallen below its key support level of 7,650, suggesting further downside momentum for equities. If this trend continues, it could lead to broader profit-taking across the market.

Crypto markets are surprisingly resilient in the face of a stronger dollar and weaker equities, with Bitcoin holding steady despite the adverse conditions.