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Oil, AI, and Banks Shake Markets | Odessa News
Oil prices surged nearly 10% after Middle East tensions flared, threatening the Strait of Hormuz and pushing Brent crude past $83 a barrel. Meanwhile, tech stocks, especially AI-linked giants like Nvidia and Micron, took a hit as investors question whether recent surges are fueled by hype or real demand. The sell-off began in Asia, dragging down chipmakers despite strong revenue at firms like TSMC, as markets turn cautious on inflated valuations. Upcoming bank earnings from Bank of America and JPMorgan will be closely watched for signs of sustainable growth. Bond yields rose alongside oil…
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