Oil Rally and Diplomatic Tensions Spark Market Retreat
Markets took a hit on Tuesday as tensions between Washington and Tehran escalated, causing investors to seek safer assets. The diplomatic stalemate drove oil prices up, with Brent crude advancing 1.8% to $89.34 per barrel.
The rise in energy commodity prices weighed on equity markets, with the Dow Jones Industrial Average futures declining 64 points, representing a 0.1% decrease. The S&P 500 futures hovered around breakeven, while Nasdaq 100 futures registered marginal gains.
Riot Platforms' stock surged over 20% after announcing a $9.1 billion computing infrastructure agreement with Anthropic. Intel also completed an enlarged $20 billion equity raise at $95 per share, supporting its expansion plans.
Bitcoin declined alongside risk assets as investors exited cryptocurrencies and other speculative investments amid the diplomatic uncertainty.