Global Markets Plunge Amid US-Iran Conflict

The current global market situation is dominated by the escalating tensions between the US and Iran. This ongoing conflict has led to significant losses in both stock markets and cryptocurrency markets.

The Dow Jones plummeted over 800 points last week, causing it to enter correction territory after five weeks of consecutive losses. This decline pushed the S&P 500 to its lowest levels in months, with tech stocks taking a particularly heavy hit. The 'Magnificent Seven' – including Meta and Google – lost $850 billion in value over the past week.

Crypto markets have also been severely affected by the war, with Bitcoin experiencing its lowest price since the conflict began. However, it bounced back slightly as Asia opened on Monday, trading at around $67,402. Ethereum saw a 2% gain to $2,044, while Solana and XRP rose 0.9% and 1.4%, respectively.

The war's impact on oil prices is also noteworthy. Brent crude surged 2.5% to $115 per barrel, with a significant increase in aluminum prices due to the destruction of two Iranian aluminum sites. This has led to concerns about inflation and its potential effects on interest rates.