Futures drop, oil spikes amid widening Mideast conflict - what’s moving markets

U.S. and Israel launched massive air attacks on Iran, causing futures linked to main U.S. stock indices to point to significant losses, while pushing oil prices higher and triggering a rush to safe-haven assets like gold across global markets on Monday, as investors reacted to escalating Middle East tensions and uncertainty around artificial intelligence advancements in the technology sector. The market reactions were widespread and pronounced, with Asian major stock indices falling as investors grappled with the dual impact of geopolitical tensions and technological uncertainty. Technology companies faced particular pressure as questions remained about the pace and impact of AI developments on their business models, while energy markets experienced significant volatility following the attacks on Iran, a major oil-producing nation, with crude oil prices surging by over 5% in early trading as concerns grew about potential supply disruptions from the conflict.