HONG KONG, Feb 4, 2026 – Asian shares wobbled on Wednesday, mirroring steep losses on Wall Street driven by fears that new artificial intelligence tools could disrupt traditional software firms.
Oil prices climbed over 1% after the U.S. military shot down an Iranian drone approaching an aircraft carrier in the Arabian Sea. The incident, alongside reports of Iranian gunboats nearing a U.S.-flagged tanker in the Strait of Hormuz, stoked fresh supply concerns.
Meanwhile, gold made a sharp comeback, rebounding to reclaim the key $5,000 per ounce level as investors sought safe-haven assets amid the geopolitical tensions and broader market volatility. $XAU $XAG $BTC #GOLD #USIranStandoff
