{"id":61790,"date":"2026-05-10T21:38:15","date_gmt":"2026-05-11T01:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-4-on-iran-standoff-as-tech-rally-triggers-trading-curbs-in-asia\/61790\/"},"modified":"2026-05-10T21:38:15","modified_gmt":"2026-05-11T01:38:15","slug":"oil-surges-4-on-iran-standoff-as-tech-rally-triggers-trading-curbs-in-asia","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-4-on-iran-standoff-as-tech-rally-triggers-trading-curbs-in-asia\/61790\/","title":{"rendered":"Oil Surges 4% on Iran Standoff as Tech Rally Triggers Trading Curbs in Asia"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Crude oil prices surged 4%<\/strong> after the U.S. and Iran rejected reciprocal peace proposals, heightening fears of a prolonged Middle East conflict.<\/li>\n<li><strong>Asian markets experienced a massive tech-led rally<\/strong>, with the Korea Exchange (KRX) issuing a <strong>buy-side sidecar<\/strong> on the KOSPI due to a sharp price spike.<\/li>\n<li><strong>Israeli PM Netanyahu warned that the war is &quot;not over,&quot;<\/strong> citing Iran&#39;s continued development of ballistic missiles and the need to dismantle uranium enrichment sites.<\/li>\n<li><strong>Apollo Global Management (<a href=\"\/stock\/APO\">APO<\/a>)<\/strong> is in talks to sell a <strong>$3 billion private credit fund<\/strong> even as its listed BDC, MidCap Financial Investment Corp. (<a href=\"\/stock\/MFIC\">MFIC<\/a>), reported a <strong>$61 million loss<\/strong>.<\/li>\n<li><strong>The Japanese Yen weakened<\/strong> against major peers as risk-on sentiment in equity markets reduced demand for safe-haven assets.<\/li>\n<\/ul>\n<h2>Geopolitical Tensions Drive Energy and Currency Volatility<\/h2>\n<p><strong>Crude oil prices jumped 4%<\/strong> early Monday following a breakdown in diplomatic efforts between Washington and Tehran. Both nations reportedly rejected the other&#39;s latest proposals, leading to a stalemate that <em>analysts fear could disrupt global energy supplies<\/em>.<\/p>\n<p>The geopolitical friction was further exacerbated by comments from <strong>Israeli Prime Minister Benjamin Netanyahu<\/strong>, who told CBS that significant work remains to neutralize Iran\u2019s nuclear capabilities. Netanyahu emphasized that <strong>enriched uranium must be removed<\/strong> and enrichment sites dismantled, noting that Iran continues to back regional proxies.<\/p>\n<p>In the currency markets, the <strong>EUR\/USD pair edged lower toward 1.1750<\/strong> after reports surfaced that Donald Trump rejected a new Iran peace offer. Meanwhile, the <strong>Japanese Yen<\/strong> saw broad weakness as a &quot;mild risk-on&quot; mood permeated the Asian trading session, shifting capital away from defensive currencies.<\/p>\n<h2>Tech Rally Triggers Trading Halts in Asia<\/h2>\n<p>South Korean markets saw extreme volatility as the <strong>KRX issued a buy-side sidecar<\/strong> on the KOSPI index to manage a rapid surge in buy orders. The rally was largely driven by the technology sector, mirroring broader gains across the region as investors shrugged off geopolitical concerns in favor of growth stocks.<\/p>\n<p>Japanese markets advanced <strong>0.9%<\/strong>, supported by significant strength in <strong>semiconductor and metals stocks<\/strong>. The positive momentum comes despite regional security movements, including a <strong>U.S. aircraft carrier<\/strong> leaving its home port in Japan for what are believed to be sea trials.<\/p>\n<p>In China, domestic automakers are gaining a significant &quot;tech and pricing edge&quot; in the SUV market. Local manufacturers are increasingly outcompeting German giants such as <strong>BMW (<a href=\"\/stock\/BMW\">BMW<\/a>)<\/strong>, <strong>Mercedes-Benz (<a href=\"\/stock\/MBG\">MBG<\/a>)<\/strong>, and <strong>Audi (<a href=\"\/stock\/VOW3\">VOW3<\/a>)<\/strong>, marking a shift in the luxury automotive landscape.<\/p>\n<h2>Apollo Navigates Losses and Multi-Billion Dollar Sales<\/h2>\n<p><strong>Apollo Global Management (<a href=\"\/stock\/APO\">APO<\/a>)<\/strong> is currently making headlines with two major financial developments. The firm is reportedly in talks to sell a <strong>$3 billion private credit fund<\/strong>, a move that highlights the ongoing demand for alternative credit assets despite broader market uncertainty.<\/p>\n<p>However, the firm&#39;s publicly listed Business Development Company (BDC), <strong>MidCap Financial Investment Corp. (<a href=\"\/stock\/MFIC\">MFIC<\/a>)<\/strong>, reported a <strong>$61 million loss<\/strong> last week. This divergence underscores the <em>mixed performance within private equity and credit portfolios<\/em> as interest rates and credit conditions remain volatile.<\/p>\n<h2>Regional Developments and Corporate Shifts<\/h2>\n<p>In the United Kingdom, <strong>Prime Minister Keir Starmer<\/strong> is reportedly battling for his political future, pledging &quot;urgent&quot; change to regain public trust. The political instability in Westminster adds another layer of uncertainty for European markets already dealing with the fallout of the Iran standoff.<\/p>\n<p>On the corporate tech front, <strong>Instagram<\/strong>, owned by <strong>Meta (<a href=\"\/stock\/META\">META<\/a>)<\/strong>, is considering an expansion into long-form video specifically designed for <strong>big-screen TV audiences<\/strong>. This move signals an aggressive attempt to compete with traditional broadcast media and YouTube for advertising revenue.<\/p>\n<p>Finally, in North Korea, state media reports a massive <strong>rice transplanting drive<\/strong> as the nation continues to struggle with chronic food shortages. The agricultural push remains a top priority for Pyongyang amid its ongoing international isolation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Crude oil prices surged 4% after the U.S. and Iran rejected reciprocal peace proposals, heightening fears of a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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