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Global markets remain turbulent as the ongoing US-Iran conflict fuels investor anxiety, with financial volatility and rising borrowing costs causing major equity indexes to post a fifth straight week of losses. These concerns are echoed in Europe, where borrowing costs have surged to their highest levels in 15 years, stoking fears of further ECB rate hikes and underscoring the interconnectedness of global economies during periods of geopolitical tension.

In the business world, BYD has reported its first annual profit decline since 2021, spotlighting the fierce competition and regulatory headwinds facing the global electric vehicle sector. Meanwhile, Sony has announced price hikes for its PlayStation 5 and related consoles, attributing the increases to persistent supply chain challenges and the broader economic pressures that continue to ripple across industries worldwide.

Developing: The full economic impact of the US-Iran conflict on global markets remains uncertain as tensions persist.