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Oil Plunge and Tech Sell-Off Weigh on ASX as Earnings Downgrades Mount | Lavamgam

Stocks

Negative

Oil Plunge and Tech Sell-Off Weigh on ASX as Earnings Downgrades Mount

A massive 9.1% plunge in Brent crude to $US87.98 a barrel after US-Iran attacks paused offers relief for fuel-dependent sectors and consumers. Lower oil prices directly cut costs for airlines, retailers, and manufacturers, potentially boosting margins ahead of earnings season. The ASX jumped 1.4% on Monday, showing the market's appetite for any de-escalation signal.