Gold prices extended losses on Monday on rising fears of a U.S. rate hike after a strong jobs report, while renewed hostilities in the Middle East pushed oil prices higher and fanned inflation concerns.
Asian stocks plunged on Monday as investors rushed out of the hottest AI-linked shares on fears the bull run has gone too far, too fast and as fresh hostilities in Iran pushed up oil prices.
U.S. crude futures were up $2.57 at $93.11 per barrel.
Israel said it struck military targets in western and central Iran on Monday, even after U.S. President Donald Trump reportedly told Israeli Prime Minister Benjamin Netanyahu to refrain from further attacks.
Britain’s jobs market cooled rapidly in May after employers put the brakes on permanent hiring after the Iran war heightened cost pressures and uncertainty about the economic outlook, an industry survey showed on Monday.
Armenian Prime Minister Nikol Pashinyan declared victory on Monday in a parliamentary election after results from just over one-fifth of polling sites showed his party with around 54% of the vote.
Europe’s youngest nation has had no functioning government for much of the last year.
United Airlines remains open to buying airport slots, gates or other assets if higher fuel prices put weaker rivals under pressure, but it is unlikely to pursue a major consolidation deal after its failed overture to American Airlines , Chief Executive Scott Kirby told Reuters on Sunday.
At least 21 Iraqis were killed and 19 others injured when a passenger bus crashed and caught fire near the southern city of Nassiriya on Sunday, police and health officials said.
Britain’s Keir Starmer welcomed Ukraine’s Volodymyr Zelenskiy and the leaders of Germany and France to Downing Street on Sunday for talks on European support for Ukraine and stepping up efforts to bring an end to the war.