Global equity markets retreated on Thursday as selling pressure in the technology sector intensified, with semiconductor shares leading the decline.
The downturn marks a continuation of the risk-off sentiment that has gripped investors since Asian markets opened lower earlier in the week, driven by growing caution over geopolitical friction in the Middle East.
Oil prices proved volatile in the session, wobbling as the United States and Iran exchanged fresh military strikes.
The conflicting signals from the battlefield—where supply disruption fears compete with demand destruction concerns—have left energy traders navigating a narrow range.
Brent crude and WTI failed to find a clear directional bias, reflecting the market's struggle to price in the immediate impact of the escalating conflict.
The cross-asset reaction highlights the dual pressure on portfolios: equity valuations are being weighed down by sector-specific weakness in tech, while commodity hedges are undermined by the uncertainty of the Middle East situation.