Oil Rises Above $81, Tech Rout Spreads Across Markets

European stocks fell Friday, tracking a sharp selloff in Asia that sent the Nikkei down 4% and the KOSPI down 6%. The losses were smaller in Europe. The region's indices are less tech-heavy. S&P 500 futures were down 0.8% and Nasdaq futures down 1.5% ahead of the US open, with selling spreading beyond AI-related firms to big tech.

Oil prices climbed as the US-Iran conflict continued. WTI crude rose 2.6% to $81.00, pushing above the $80 mark it had held through the week.

The dollar was mixed. EUR/USD held at 1.1435, USD/JPY at 162.30. USD/CHF fell 0.2% to 0.8068, and USD/CAD slipped 0.1% to 1.4025. Ten-year Treasury yields fell 4 basis points to 4.525%.

Gold rose 0.6% to $3,992. Silver edged down 0.2% to $55.40.