Framing Analysis
Asian shares fell on Friday while Brent crude held at $100.85 a barrel after a 7 percent overnight surge to $102, according to CNA reporting on US air strikes, Iranian retaliation, Houthi tanker attacks, and the near-closure of the Strait of Hormuz. The S&P 500 Index is on track for its worst day in a month and 30-year Treasury yields approached 2007 highs, per New Zealand Herald data. An interim truce had collapsed two weeks earlier, and the US administration plans higher tariffs on goods from 60 trading partners.