Market Volatility Amid Rising Geopolitical Tensions and Economic Data

Global stocks dipped on Thursday amid geopolitical tensions and mixed economic signals. Rising jobless claims contrasted with strong service-sector activity in the U.S., while oil prices surged due to Middle East conflicts. Asia-Pacific shares were mixed, and the U.S. dollar strengthened as the market braces for the nonfarm payrolls report.

Global stock markets saw declines on Thursday driven primarily by geopolitical tensions and mixed economic indicators. Wall Street closed lower with the Dow, S&P 500, and Nasdaq all recording losses amid contradictory signals from U.S. economic data—rising jobless claims versus robust service-sector activity.

Oil prices surged significantly due to increased tensions in the Middle East, notably after Israel's bombing in Beirut, casting a shadow over global markets. Brent crude rose over 5%, reflecting investor anxiety about potential instability in oil-rich regions.

In currency markets, the U.S. dollar gained strength, reaching highs not seen since mid-August, while European markets faced declines following weak business activity data. As the world anticipates the upcoming nonfarm payrolls report, cautious optimism remains with a watchful eye on ongoing global developments.

(With inputs from agencies.)