Brent tops $111 as Middle East tensions hit global markets
Business
Global markets are feeling the heat as oil prices jump, thanks to rising tensions in the Middle East.
Brent crude is now over $111 a barrel and WTI isn't far behind, raising worries about higher inflation and a slowdown in global growth.
Investors are moving away from risk, with stocks taking a hit across Asia and the US.
Global bond yields spike, gold weakens
Bond yields have spiked worldwide as people brace for more inflation: US 10-year yields hit 4.6% and 30-year yields topped 5.1%.
Even gold lost some shine due to a stronger dollar.
Back home, Indian markets are expected to open lower too, with GIFT Nifty pointing to a rough start this week as investors stay cautious.