- Mainland Chinese stocks fell to a 13-month low, with the CSI 300 dropping 2.2% and the chip-heavy Star Market 50 tumbling 4.1% as technology shares led declines.
- Crude oil traded above US$100 a barrel after the US rejected an Iranian proposal to restore traffic through the Strait of Hormuz, keeping inflation concerns alive and Treasury yields elevated.
- European shares gained as investors looked past rising bond yields and surging oil prices, with UK homebuilders jumping on a new government loan program for first-time buyers.
- Asian equity markets traded predominantly lower and US equity futures came under pressure as geopolitical friction and surging energy prices weighed on risk sentiment.
Quotes
“Chinese technology stocks took a beating as crude oil traded above US$100 a barrel after the US rejected a proposal by Iran to restore traffic through the Strait of Hormuz.”
“European shares gained on Monday as investors looked past rising bond yields and a renewed surge in oil prices, with UK homebuilders jumping after the government announced a new loan program to help first-time buyers.”
“Asian equity markets traded predominantly lower on Monday, reversing early-session tailwinds from Wall Street as geopolitical friction and surging energy prices weighed on risk sentiment.”