Saudi Attacks Push Oil Higher as Stocks Slide on Tech Earnings

Stocks slid in a broad retreat from riskier assets as a slate of technology earnings fell short of elevated expectations and escalating hostilities in the Middle East pushed oil prices higher. Deadly attacks in Saudi Arabia heightened concerns that rising Middle East tensions could hit supply, even as exports through the Strait of Hormuz accelerate. Meta CEO Mark Zuckerberg told investors that a pricey wager on artificial intelligence is delivering results, setting the stage for the company to bet even more aggressively on the market. Tesla pulled back its spending plans after investment last quarter trailed expectations, clouding Elon Musk’s (Source: Bloomberg Television | Region: London, UK)