Asian markets fall as oil prices soar past $111/bbl
Asian markets took a hit Thursday, with Japan's Nikkei 225 down 2.4%, after oil prices soared past $111 a barrel.
The spike came amid strikes between Iran and Israel on critical energy facilities, including damage to a major liquefied natural gas export plant in Qatar, raising fresh worries about global energy supplies.
Higher oil prices and interest rates could slow down economy
Rising oil prices mean higher costs for everything from travel to groceries, which can squeeze your budget and slow down the economy.
The US Federal Reserve is keeping interest rates steady for now but raised its inflation outlook for 2026, hinting that borrowing money might stay expensive longer than expected, affecting loans and investments.
Energy market chaos and its impact on Asian stocks
Energy market chaos is making investors nervous. Treasuries sold off across the curve, pushing yields higher and lifting the dollar, while concerns over private credit added more pressure.
This mix of uncertainty has weighed heavily on Asian stocks this week.