Asian markets tumble, oil surges, tech stocks slide

Mettis Global reported that Asian equities slid on Friday, following losses on Wall Street. Japan's Nikkei 225 closed 1.42% lower at 69,042.11, while South Korea's Kospi dropped 2.62% to 6,625.93. Australia's S&P/ASX 200 fell 0.77% to 8,660.90, and Hong Kong's Hang Seng was 1.43% weaker in its final hour.

In the United States, the Nasdaq Composite lost 1.25% to 27,193.34 as technology shares weakened after fresh details on OpenAI's revenue cast doubt on the outlook for AI investment, according to CNBC. Oracle shares fell more than 5%, with Nvidia and Advanced Micro Devices also lower. Palantir Technologies climbed 2% after Goldman Sachs raised its rating on the stock. The Dow Jones Industrial Average edged up 0.1% to 51,231.64.

Oil prices jumped after Trump said he was opposed to an agreement with Iran that would end the war, while reports pointed to planned US military escalation. Benchmark Brent gained 4.07%, reaching $104.28 a barrel, and West Texas Intermediate futures rose 3.64% to $91.49. Crude later pulled back from its peak after Trump suggested Washington would hold off on strikes until after next month's midterm vote. Treasury yields also eased following robust demand at a 30-year bond sale, with the 10-year at 5.227%.