Chinese electric vehicle maker BYD (002594.SZ) opens new tab recorded the biggest fall in global sales in six years last month against a backdrop of fierce competition in the world's largest auto market.
The Middle East war's impact on the global economy will depend on its duration and damage to infrastructure and industries in the region, particularly whether energy price increases are short-lived or persistent, the International Monetary Fund's number two official said on Tuesday.
Federal Reserve Bank of Minneapolis President Neel Kashkari said on Tuesday that the Iran conflict has increased uncertainty about the U.S. economic outlook and made it harder to know what lies ahead for central bank interest rate policy.
Investors rushed to lock in a spike in oil prices this week, resulting in a record volume of energy futures and options contracts changing hands on Monday, the first trading day after Israel and the U.S. bombed Iran and Tehran retaliated.
Oil prices rose in Asian trading on Wednesday after two days of sharp gains, as an intensifying conflict between the U.S., Israel, and Iran kept supply disruption risks at the forefront of investor concerns.
The U.S. dollar rallied further on Tuesday, as the widening conflict in the Middle East resulted in the greenback solidifying its status as a global safe-haven.