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Oil Jumps on Iran Attack, Asian Stocks Set to Drop: Markets Wrap

Oil Jumps on Iran Attack, Asian Stocks Set to Drop: Markets Wrap
Bloomberg Markets Tuesday 07 July 2026, 22:10 UTC By Stephen Kirkland 1 min read
Key Points

Oil Jumps on Iran Attack, Asian Stocks Set to Drop: Markets Wrap Oil surged as the US military said it was carrying out new strikes against Iran. Stocks in Asia were poised to drop for a second day as a selloff in chipmakers rippled across markets. Equity-index futures for Japan, South Korea and Australia pointed to declines after US benchmarks fell overnight, with a gauge of semiconductor stocks dropping more than 4%.

Oil Jumps on Iran Attack, Asian Stocks Set to Drop: Markets Wrap Oil surged as the US military said it was carrying out new strikes against Iran. Stocks in Asia were poised to drop for a second day as a selloff in chipmakers rippled across markets. Equity-index futures for Japan, South Korea and Australia pointed to declines after US benchmarks fell overnight, with a gauge of semiconductor stocks dropping more than 4%. S&P 500 contracts were steady in early Asia trading after the benchmark dropped 0.4% on Tuesday. The Nasdaq 100 declined 1.8%.
Asian (ORG) US (LOCATION) Iran (LOCATION) Asia (LOCATION) Japan (LOCATION) South Korea (LOCATION) Australia (LOCATION)
Originally published by Bloomberg Markets Read original →

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