– Oil-powered commodities and REITs led as Treasuries edged higher. U.S. and foreign stocks fell amid an AI-chip rout and Iran tensions.
– Value, dividends and low volatility beat sharply. Energy surged 5%, while pure growth sank 7% as investors fled crowded AI and momentum trades.
– Korea fell 8.9% and Taiwan 6.5% in the chip rout, dragging emerging Asia lower. Indonesia bucked the selloff with a 7.0% surge.
– WTI soared 14.9% as the Iran conflict threatened supply. Gold and silver slid, the dollar eased 0.2%, and bonds were mostly flat.

– Middle East tensions lifted oil and commodities, while U.S. stocks advanced. International stocks, REITs and Treasuries lagged.
– Technology, energy and momentum led. Materials and healthcare lagged as investors rotated toward growth and cyclicals.
– Brazil, China and Nigeria outperformed, while Korea and Taiwan corrected after being among 2026’s strongest markets.
– Industrial metals rose while gold and silver fell. Treasuries and corporate bonds weakened as yields moved higher.