May 6, 2026 10:22 AM
Asia markets hit records on AI euphoria, Iran peace hopes
Stocks leapt, oil prices sank, and the dollar dropped in Asia on Wednesday morning after U.S. President Donald Trump touted “great progress” toward a “final agreement” with Tehran, while momentum in AI-driven trades accelerated. Trump said he would briefly pause an operation escorting ships through the Strait of Hormuz, which carries about a fifth of global oil and has been blockaded by Iran since late February, triggering a global energy crisis. The news sent Brent crude tumbling 1.2%...