DBI Today: 47.9 (−3.7)
Over the weekend, the US and Iran traded fresh strikes near the Strait of Hormuz — the narrow stretch of water between Iran and the Arabian Peninsula that around a fifth of the world's oil and gas passes through — and drone and missile fire hit sites in Kuwait, Bahrain and Jordan while Qatar's air defences intercepted incoming fire. The Daily Business Index, our daily 0-to-100 readout of global business health where 50 is neutral, dropped to 47.9 from 51.6. Oil jumped, tech stocks stumbled, and a South Korean chipmaker's triumphant Wall Street debut turned into a cautionary tale within days. Markets that had grown almost numb to Gulf headlines finally flinched.
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