Oil prices sink 4% while Asian shares gain as Chinese chipmaker CXMT soars in Shanghai trading debut

Oil prices dropped over 4% as U.S.-Iran negotiations eased tensions, while Asian shares gained, led by a 470% surge in Chinese chipmaker CXMT's Shanghai debut. The company became China's most valuable listed firm with a $490 billion market cap. U.S. markets showed mixed results, with energy prices and Trump-era tariffs raising inflation concerns.