October 7, 2026 8:21 AM
Asia shares weaker, oil up; investors weigh Saudi-Houthi escalation
Asian markets were slightly weaker on Wednesday even though US stocks touched new highs, as oil prices rose with a storm heading for the Gulf of Mexico and tensions escalating between Saudi Arabia and Yemen's Iran-backed Houthis. In Asia, MSCI's broadest index of Asia-Pacific shares excluding Japan was down 0.3% after US stocks ended higher. The index is up 1.5% so far this month. The S&P 500 hit a fresh record on Tuesday, up about 0.6% on the day, while the tech-heavy Nasdaq gained 0.45%,...