Asian Shares Drop as AI Stocks Slide; Oil Rises 2% on Saudi Pipeline Attack

Asian equity markets declined as artificial intelligence stocks came under pressure amid growing calls to slow AI development. U.S. futures also edged lower during the same period. Meanwhile, oil prices surged more than 2% after Saudi Arabia shut down a key pipeline following an attack on the infrastructure. The pipeline had served as an alternative route to bypass the Strait of Hormuz, a critical global oil transit point. Concerns over disrupted oil supplies drove the sharp rise in crude prices.