Oil falls as Trump pledges economic war on Iran

Global oil prices dipped on Monday as markets awaited further information on a U.S. plan to isolate Iran's economy. President Donald Trump characterized the initiative as the "most crushing" financial maneuver ever devised against Tehran, creating investor apprehension.

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The spending machine is still running, but the bill is getting heavier.

This uncertainty contributed to a broader downturn in Asian stock markets. South Korea's Kospi index experienced a significant drop of over three percent, largely influenced by Samsung Electronics' announcement of an $80 billion share buyback. The tech giant's shares, along with those of rival SK Hynix, had previously surged on optimism surrounding the artificial intelligence boom but have since faced volatility amid investor jitters and a general tech sector decline.

In the technology sector, all eyes are on Nvidia, the world's most valuable company and a key indicator for the AI market. Investors are keen to see if the company's upcoming earnings report will confirm the continued acceleration of the AI boom. Stephen Innes of SPI Asset Management noted the increasing cost of this investment surge, questioning whether Nvidia can sustain its profitability. Chinese tech firm Alibaba also made headlines, planning to issue $10.2 billion in new shares to fund its global AI ambitions.

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Nvidia must now show that the most expensive investment boom in modern market history can still pay its bills.

Markets in Tokyo and Shanghai closed lower, reflecting the widespread losses across Asia, though some, like Sydney and Singapore, saw marginal gains. In Europe, London was flat at the open, while Paris and Frankfurt registered slight declines. U.S. Treasury Secretary Scott Bessent is expected to provide more details on the economic pressure campaign against Iran later on Monday.

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