World shares broadly declined on Thursday, and oil prices experienced a slip despite ongoing strikes between the United States and Iran. US futures also edged lower. A significant factor in the Asian markets was selling pressure on AI-related shares, which weighed down benchmarks in countries like South Korea and Japan. Specifically, Seoul’s Kospi index experienced a notable drop of 6.4% to 6,820.60.
Oil prices remained elevated despite the slip, with Brent crude, the international standard, falling 0.3% to $84.68 a barrel. This still represents a significant increase from late February, when it was trading near $72 per barrel before the war began. Benchmark US crude saw a smaller dip, slipping less than 0.1% to $79.57 per barrel.
In contrast to the general market decline due to geopolitical tensions and AI jitters, some positive news emerged. A US report indicated that inflation slowed in June, and American investment company BlackRock reported strong earnings. BlackRock's shares rose by 6.6% after exceeding quarterly revenue and profit expectations. This positive performance was not universally reflected, however, as the overall market sentiment was tempered by other factors.
