Shares fall in Asia, with Kospi down 5.2%, while oil prices jump

Asian shares retreated after artificial-intelligence stocks resumed their decline, leading South Korea’s Kospi to drop 5.2%. Meanwhile, oil prices surged due to uncertainty over when and whether the United States and Iran can allow tankers to exit the Persian Gulf freely. Market sentiment is further clouded by rising bond yields, which are causing worries about huge government debt loads.