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BUSINESSJun 8 · 08:56 UTCWPLG LOCAL 10 MIAMIBy YURI KAGEYAMA, Associated Press

Oil prices surge as Iran conflict flares, while global stocks skid on selling of tech shares

Oil prices surged over $4 as Israel and Iran exchanged airstrikes, while global stocks declined sharply due to heavy selling of tech shares. South Korea's Kospi dropped 8.3%, and major European and Asian indices fell, with Samsung Electronics and SK Hynix leading losses in Asia. A tentative U.S.-Iran ceasefire deal remains unresolved, straining efforts to end the conflict blocking oil shipments through the Strait of Hormuz.

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IsraelplaceIranplaceSouth KoreaplaceSamsung ElectronicsorganizationSK HynixorganizationJapanplaceU.S.placeStrait of Hormuzplace
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