Saudi Arabia Reports Fresh Attacks as Wider Conflict Could Push Oil to $120

Global financial markets are experiencing a downturn, with technology stocks and semiconductor manufacturers facing significant pressure due to heightened competition and concerns over AI-driven valuations. Bond yields are rising as governments compete for capital, a trend the IMF identifies as a primary risk to global financial stability. In the Middle East, escalating drone and missile attacks on Saudi Arabia have intensified regional tensions, prompting discussions on potential U.S. involvement and the impact on oil supply routes, with projections suggesting Brent crude could reach $120 per barrel if disruptions persist. Meanwhile, the Bloomberg New Economy Forum in New Delhi is gathering leaders to address India's economic ambitions and global investment strategies. Corporate developments include Meta’s release of an advanced AI model and BYD’s expansion plans in Europe, reflecting a broader focus on technological innovation and shifting global trade dynamics.