Oil Climbs Above $111 as AI Stocks Slide, Dragging the S&P 500 and Global Markets With Them

A five-month peak for Brent crude coincided with declines in Nvidia, Meta and other chipmaker shares, pressuring major Asian equity benchmarks. The region’s main stock indexes fell by up to 3.5%. This market move came a week after South Korea’s Kospi, the country’s main benchmark stock index, dropped 7.57%. Brent is an international benchmark used for crude oil prices, and the Kospi is South Korea’s main stock market benchmark index.