{"id":73896,"date":"2026-10-30T15:08:19","date_gmt":"2026-10-30T19:08:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/"},"modified":"2026-10-30T15:08:19","modified_gmt":"2026-10-30T19:08:19","slug":"global-markets-rattled-by-middle-east-escalation-and-tech-correction","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/","title":{"rendered":"Global Markets Rattled by Middle East Escalation and Tech Correction"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/#Energy_Markets_Surge_Amid_Maritime_Attacks\" >Energy Markets Surge Amid Maritime Attacks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/#Tech_Rout_Triggers_Nasdaq_Correction\" >Tech Rout Triggers Nasdaq Correction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/#US_Bolsters_Ukraine_Defense_and_Sanctions_Iran\" >U.S. Bolsters Ukraine Defense and Sanctions Iran<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/#Anthropic_Expands_AI_Infrastructure_to_Canada\" >Anthropic Expands AI Infrastructure to Canada<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rattled-by-middle-east-escalation-and-tech-correction\/73896\/#Legal_Battle_Over_California_Ballots\" >Legal Battle Over California Ballots<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Brent crude futures surged 2.4% to settle at $117.64\/bbl<\/strong> following a confirmed attack on a tanker in the Strait of Hormuz, marking the fourth consecutive month of gains for <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a>.<\/li>\n<li><strong>The Nasdaq 100 (<a href=\"\/stock\/QQQ\">QQQ<\/a>) fell 4% on Friday<\/strong>, officially entering a technical correction after dropping 10% from its October highs due to disappointing earnings from tech giants.<\/li>\n<li><strong>The U.S. approved a $2.1 billion Patriot missile sale to Ukraine<\/strong>, as the Biden administration accelerates defense support amid widening regional conflicts.<\/li>\n<li><strong>Anthropic is in advanced talks to lease a hyperscale data center campus near Edmonton, Alberta<\/strong>, aiming to bring &quot;gigawatts&quot; of AI compute capacity online in Canada.<\/li>\n<li><strong>A U.S. Treasury report revealed that &quot;Operation Economic Outcast&quot; has crippled Iran\u2019s economy<\/strong>, with naval blockades and sanctions causing a projected 25% contraction.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_Surge_Amid_Maritime_Attacks\"><\/span>Energy Markets Surge Amid Maritime Attacks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Global oil benchmarks climbed sharply on Friday after the <strong>United Kingdom Maritime Trade Operations (UKMTO)<\/strong> reported a vessel was struck by an unknown projectile 40 nautical miles south of <strong>Lavan Island, Iran<\/strong>. The incident, involving explosive devices attached to a tanker&#39;s hull, has heightened fears of a broader disruption in the <strong>Strait of Hormuz<\/strong>, a waterway critical for 20% of global energy supplies.<\/p>\n<p><strong>Brent Crude<\/strong> futures for December settled up <strong>$2.76 at $117.64 per barrel<\/strong>, while <strong>U.S. West Texas Intermediate (WTI)<\/strong> rose to <strong>$104.79<\/strong>. Analysts from <em>UBS<\/em> and <em>Reuters<\/em> noted that the persistent &quot;kinetic action&quot; in the Persian Gulf is keeping a significant risk premium on prices, with Brent now projected to average over <strong>$90<\/strong> through 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Rout_Triggers_Nasdaq_Correction\"><\/span>Tech Rout Triggers Nasdaq Correction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Nasdaq 100 (<a href=\"\/stock\/QQQ\">QQQ<\/a>)<\/strong> plummeted on Friday, wiping out more than <strong>$1.2 trillion<\/strong> in market capitalization this month. Disappointing quarterly results and heavy capital expenditure outlooks from Intel (<a href=\"\/stock\/INTC\">INTC<\/a>), which fell <strong>31%<\/strong>, and Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>) fueled investor concerns that the artificial intelligence trade may be overextended.<\/p>\n<p>The index is now trading <strong>10% below its October 6 peak<\/strong>, meeting the technical definition of a market correction. <em>Market analysts<\/em> suggest that the rotation out of high-growth technology shares is accelerating as investors move into cash and defensive sectors ahead of the upcoming U.S. midterm elections.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_Bolsters_Ukraine_Defense_and_Sanctions_Iran\"><\/span>U.S. Bolsters Ukraine Defense and Sanctions Iran<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a major defense move, the <strong>U.S. State Department<\/strong> approved a possible <strong>$2.1 billion sale<\/strong> of Patriot missile systems and related equipment to <strong>Ukraine<\/strong>. This package is intended to bolster Kyiv&#39;s air defense capabilities against increasing long-range strikes. The announcement benefited major defense contractors, including Lockheed Martin (<a href=\"\/stock\/LMT\">LMT<\/a>) and RTX (<a href=\"\/stock\/RTX\">RTX<\/a>), who are seeing record order backlogs.<\/p>\n<p>Simultaneously, a new <strong>Treasury Department<\/strong> report obtained by <em>Axios<\/em> detailed the success of <strong>&quot;Operation Economic Outcast&quot;<\/strong> against Tehran. The report indicates that a combination of a naval blockade and secondary sanctions has effectively &quot;severed every economic lifeline&quot; for the Iranian regime, leading to a near-total depletion of its offshore oil reserves.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Anthropic_Expands_AI_Infrastructure_to_Canada\"><\/span>Anthropic Expands AI Infrastructure to Canada<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>AI startup <strong>Anthropic<\/strong> is reportedly in negotiations to lease a massive data center campus near <strong>Edmonton, Alberta<\/strong>. The move follows a similar <strong>$13-billion<\/strong> investment by Meta (<a href=\"\/stock\/META\">META<\/a>) in the region, as Alberta&#39;s natural gas resources and cooler climate make it an attractive hub for power-hungry AI workloads.<\/p>\n<p>Despite the expansion, Anthropic faces internal financial pressure; recent disclosures show a net loss of over <strong>$80 billion<\/strong> in the first half of 2026, largely due to accounting charges related to convertible bonds. The company is expected to proceed with an <strong>IPO<\/strong> in November at a valuation near <strong>$1.5 trillion<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Legal_Battle_Over_California_Ballots\"><\/span>Legal Battle Over California Ballots<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>U.S. Ninth Circuit Court of Appeals<\/strong> denied a renewed request by the <strong>Department of Justice (DOJ)<\/strong> to block California from counting approximately <strong>20,000 mail-in ballots<\/strong>. The DOJ had alleged the ballots belonged to noncitizens, but the court ruled 2-1 against the emergency stay, stating the government had not provided sufficient evidence to warrant such an intervention so close to the election. This marks the third consecutive legal defeat for the administration&#39;s efforts to sequester ballots in the state.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Brent crude futures surged 2.4% to settle at $117.64\/bbl following a confirmed attack on a tanker in the 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