Brent crude surged 7.1% to $100.74 a barrel, its highest since May, as intensified fighting in the Middle East stoked fears of supply disruptions. U.S. stocks fell in tandem, with the S&P 500 down 1.3%, the Dow off 1% and the Nasdaq sliding 2.2%. Tesla and Alphabet led the declines.

Nvidia disclosed a strategic investment in Dutch cloud services provider Nebius, taking a 9% stake. In premarket trading, AI hardware-linked names rallied, with SanDisk and Western Digital up more than 7% each, Marvell Technology up 6.2% and Intel up 5.7%, while Nvidia rose 1.3%. Nasdaq futures gained 1.3%. The move signals a clear capital action in AI compute infrastructure, closely tied to storage and chip hardware plays.

U.S. stocks opened higher on Monday, with the S&P 500 up 0.6%, the Dow up 190 points and the Nasdaq up 0.8%. Nvidia gained 1.6% after being the biggest drag on the S&P 500 on Friday. AMC Entertainment and Domino’s Pizza climbed after reporting better-than-expected revenue for the latest quarter. South Korea’s Kospi index fell 4.5%.

The U.S. launched military strikes on Iran for a ninth straight night, and Iran responded by hitting several U.S. allies across the Middle East, escalating the conflict. South Korea’s Kospi dropped 4.5% as investors sold AI-related stocks. European markets were mixed, with Britain’s FTSE 100 slightly lower while France and Germany edged higher. Oil prices briefly rose on supply-risk concerns before stabilizing.

Tensions between the United States and Iran escalated sharply, with Washington saying it carried out airstrikes for a ninth straight night and Iran striking several U.S. allies in the Middle East. Brent crude rose 2.6% to $90.40 a barrel, while benchmark U.S. crude gained 2.2% to $83.58 a barrel. South Korea’s Kospi slid nearly 5% amid selling pressure in AI-related shares, though the drop reflected a localized spillover in risk sentiment rather than a core driver.

Global stock markets slid sharply on Friday, with the S&P 500 down 1% for the week, the Dow off 0.8% and the Nasdaq down 1.4%. Chipmakers tied to the AI boom led the decline as investors worried that expected AI profits may not materialize as quickly as valuations imply. Oil prices kept jumping as the war with Iran continued, according to AP. The moves underscored how crude and major equity indexes can post directional, tradable intraday swings at the same time.

AI-related stocks faced a deepening selloff, sending the S&P 500 down 1.3%, the Nasdaq Composite down 2.1%, and the Dow Jones Industrial Average down 451 points. Over the same period, oil prices kept rising as the U.S.-Iran war continued. The moves reflect a geopolitics-driven cross-asset swing tied to major U.S. equity benchmarks and the oil market, without disclosure of new variables such as an escalation in military action, fresh sanctions, or supply disruptions.

AI-related stocks fell again, with Micron Technology down 3.7%. The S&P 500 slipped 0.3% and the Nasdaq composite fell 0.9%. International oil prices continued to rise, attributed in the article to the war with Iran. The conflict has not seen a fresh escalation, but the ongoing tensions have continued to support energy prices while weighing on risk appetite for richly valued AI assets.

Iran’s Revolutionary Guard threatened to cut off energy exports through the Strait of Hormuz, stoking fears of a Middle East supply disruption and pushing Brent crude briefly above $86 a barrel. Separately, U.S. inflation data showed further cooling, easing expectations for a Federal Reserve rate hike and pulling down the 10-year Treasury yield. U.S. stocks rose, led by financial names including BlackRock and Morgan Stanley after better-than-expected earnings, while Elevance Health fell 10% despite topping forecasts.