US Strikes Iran Again, Oil Rises; SK Hynix Shares Plunge Record 15%

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Oil gained after the US carried out another wave of strikes against Iran, with the two sides disputing whether the Strait of Hormuz was open. Global benchmark Brent earlier approached $80, before paring some of the increase. The US on Sunday struck dozens of targets to degrade Iran’s ability to attack international shipping through the waterway. Iran said the strait would be closed “until further notice,” though Western navies insisted it remained open.

South Korea’s AI-fueled stock rally came under renewed pressure Monday as SK Hynix tumbled by a record 15%, underscoring growing investor concerns that the boom had become overstretched.

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