"Oil was above $113 per barrel this morning and there is another massive global selloff in the equity markets underway: S&P 500 futures were down 0.85% prior to the open in New York."
"The Stoxx Europe 600 fell 2.27% in early trading. That index is now down about 12% from its recent high, meaning that the market is now officially in a 'correction.'"
"Supermicro has a prior history of smuggling chips on the black market, accused last week of smuggling $2.5 billion in Nvidia chips and servers to China."
"President Trump gave Iran a 48-hour deadline to open the Strait of Hormuz which expires at 7.44pm New York time tonight."
Oil prices exceeded $113 per barrel, coinciding with a global selloff in equity markets. The S&P 500 futures fell 0.85%, and the index is down 5% year to date. The Stoxx Europe 600 dropped 2.27%, marking a 12% decline from its recent high, indicating a market correction. Major Asian indexes also fell, with South Korea's KOSPI down 6.49% and Japan's Nikkei 225 down 3.48%. Gold, typically a safe haven, decreased by 6.67% today and is down 20% from its recent high.
Read at Fortune
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