Stocks drop and oil surges back above US$100 as US’ blockage of Hormuz escalates war

Global financial markets experience significant turbulence as equity indices decline amid escalating geopolitical tensions in the Middle East. Crude oil prices rally above $100 per barrel following reports of US military actions near the Strait of Hormuz, a critical maritime chokepoint for international energy supplies. The market volatility reflects investor concerns over potential supply disruptions and broader economic implications of regional conflict intensification.