Global Markets Rattled by Middle East Tensions

Global stock markets have seen a turbulent week as escalating military tensions in the Middle East unsettle investors. As oil prices soar beyond $100 a barrel, fears grow of renewed hostilities impacting economies worldwide.

European shares fell broadly, while Japan's Nikkei index posted gains. In the U.S., stock futures appeared mixed, reflecting uncertainties amid ongoing geopolitical tensions. The significant jump in oil prices, fuelled by Iran's military maneuvers in the Strait of Hormuz, suggests little optimism for a swift resolution to the conflict.

The currency markets are also showing volatility, with Japan's yen nearing 160 to the dollar, raising concerns over possible intervention. The dollar is set for a weekly gain as central banks prepare to address the conflict's effects on inflation and economic stability next week.

(With inputs from agencies.)