Stocks stagger and oil rises as traders eye Iran threat, Nvidia results

Asian markets experienced fluctuations on Tuesday as investors navigated a US strategy to economically pressure Iran. The White House declared an "economic D-Day" against Iran, threatening sanctions on countries trading with the Islamic republic. Treasury Secretary Scott Bessent said the US would target sectors like digital assets, technology, gold, aviation, and shipping.

Markets remained cautious as the war in Iran entered its sixth month and oil prices had risen for most of August, fueling long-term inflation fears. Tech firms faced another down day on Wall Street, with major tech companies like SK hynix and Samsung falling, while other Asian markets saw declines. Nvidia's upcoming earnings also attracted attention, as investors questioned if the company could justify its high expectations, especially with elevated bond yields.

Meanwhile, US tariffs on Canadian goods pushed the Canadian dollar slightly higher against the US dollar, while the threat of further tensions added pressure to bond markets.