Oil prices jump as fighting flares in the Middle East, while AI-led retreat pulls Asian stocks lower

Oil prices increased due to intensified fighting in the Middle East, particularly affecting the Strait of Hormuz, while Asian stock markets declined, especially in AI-related sectors. The U.S. and Iran are asserting control over the strait, causing disruptions in oil tanker traffic and concerns about supply stability. AI stocks like Micron Technology and Nvidia saw significant losses, impacting major indices like the Nikkei 225 and Kospi.