Market UpdatesApr 13, 20262 Min

Global Market Wrap: Asia Stocks Fall, Oil Surges Above $100, Gold Hits One-Week Low Amid Middle East Tensions

We are back with quick updates about global stock markets and major developments across some of the top companies worldwide.

Asia-Pacific markets traded lower on Monday, as investors weighed the impact of a US naval blockade on Iran’s ports after talks between Washington and Tehran failed to produce an agreement to end the war in the Middle East. The breakdown of negotiations over the weekend in Islamabad has reignited concerns that the US-Iran war could drag on longer than expected, pushing oil prices higher and adding to pressure on economies worldwide.

South Korea’s Kospi declined 1.0% to 5,791. Australia’s S&P/ASX 200 slipped 0.4% to 8,920. Hong Kong’s Hang Seng Index dropped 0.9% to 25,645, and Singapore’s Straits Times Index edged down 0.4% to 4,967.

US stocks ended mixed on Friday, April 10, as investors stayed cautious heading into the weekend while tracking developments in Middle East peace talks. The Nasdaq 100 rose 0.3% to 22,902, while the Dow Jones declined 0.5% to 47,916. The S&P 500 slipped 0.1% to close at 6,816.

European stocks are set to follow Asia-Pacific markets and start the week lower. Sentiment is expected to remain subdued as traders assess developments in the Middle East.

In anticipation, oil prices surged above $100 a barrel after US President Donald Trump said the navy would begin blockading the Strait of Hormuz. West Texas Intermediate (WTI) crude for May jumped 8.5% to $104.79 per barrel, while Brent crude rose 8.53% to $104.81 per barrel.

Meanwhile, Saudi Arabia said it has restored full oil pumping capacity on its East-West pipeline to about 7 million barrels per day, days after assessing damage from attacks during the Iran war. The energy ministry said affected facilities have recovered and are now fully operational. The pipeline, which had seen reduced throughput following the attacks, remains the kingdom’s key export route amid the closure of the Strait of Hormuz, easing supply concerns despite the recent surge in oil prices.

Separately, South Korea said it was close to securing crude oil supplies from Kazakhstan, as the country looks to diversify energy sources amid the ongoing Middle East conflict.

Gold prices touched a near one-week low on Monday, pressured by a stronger dollar. Spot gold fell 0.61% to $4,718 per ounce, while US gold futures for June delivery declined 0.92% to $4,743.50. Spot gold has dropped more than 11% since the US-Israel war with Iran began on February 28. Among other metals, spot silver fell 1.99% to $74.39 per ounce.

In Dubai, gold prices fell on Monday morning after Trump ordered the Navy to enforce a blockade of the Strait of Hormuz targeting Iranian ships. At the open, 24K gold dropped Dh3.25 to Dh569.0 per gram. Other variants also declined, with 22K at Dh526.75, 21K at Dh505.0, 18K at Dh433.0, and 14K at Dh337.75 per gram.

Here’s a look at some of the important developments across the global markets:

Nasdaq-100 rejig: SanDisk set to join index, Atlassian to exit

SanDisk will join the Nasdaq-100 Index in the latest reshuffle, replacing Atlassian, Nasdaq said. The change will take effect before the market opens on April 20, 2026. The inclusion reflects SanDisk’s recent market cap expansion and its growing role in the global data storage and semiconductor space. As part of the Nasdaq-100, it will be among the 100 largest non-financial companies listed on the exchange. The move is expected to drive significant institutional buying. Atlassian, meanwhile, will be removed from the index as the software-as-a-service (SaaS) sector faces a more challenging valuation environment.

OpenAI flags third-party security issue, says no user data affected

OpenAI said it has identified a security issue linked to a third-party developer tool, but found no evidence that user data or its systems were compromised. The issue involves Axios, a software library, which was compromised on March 31 as part of a broader supply chain attack. OpenAI said a GitHub Actions workflow it used downloaded a malicious version of the tool, which had access to certificates used to sign its macOS applications, including ChatGPT Desktop and Codex tools. The company said its software was not altered and its intellectual property remains secure. It is now updating its security certifications and has asked macOS users to update to the latest versions of its apps to prevent any risk of fake app distribution. OpenAI added that older versions of its macOS apps will stop receiving updates or support from May 8 and may no longer function.

CoreWeave signs multi-year deal with Anthropic to power Claude AI

Neocloud provider CoreWeave has said that it has signed a multi-year agreement with Anthropic to power its Claude AI models, as demand for AI infrastructure continues to grow. The company said that with Anthropic onboard, nine of the top 10 AI model companies now use CoreWeave’s platform, highlighting the rising demand for large-scale compute capacity. The deal follows CoreWeave’s recently expanded $21-billion agreement with Meta to provide AI cloud capacity through December 2032.

TSMC, key Nvidia and Apple supplier, set for fourth record quarter as AI demand surges

TSMC, a major supplier to Nvidia and Apple, is expected to post a fourth straight quarter of record profit, driven by strong demand for AI chips. Analysts estimate net profit for the January-March quarter at T$542.6 billion ($17.1 billion), which is up about 50% from a year earlier. The company is ramping up capacity to meet demand. It has committed $165 billion to build chip plants in Arizona and has revised its Japan plans to include production of 3-nanometre chips. Demand for TSMC’s 3-nanometre chips and advanced packaging continues to outstrip the firm’s current production capacity, supported by AI-related orders.

GFL Environmental eyes Canada’s Secure Waste buyout in $6-billion deal

GFL Environmental is reportedly nearing a deal to acquire Canada’s Secure Waste Infrastructure for over C$6 billion ($4.3 billion). The transaction is expected to be structured with about 20% in cash and 80% in stock, valuing Secure Waste at about C$24.50 per share. Calgary-based Secure Waste operates a network of processing, recovery and disposal assets across Western Canada and North Dakota. The development comes shortly after GFL acquired Frontier Waste Solutions, as it continues to expand its footprint in the waste management sector.