ASX set to edge up, Wall Street slides as tech stocks fall, oil prices rise

Investors on Wall Street are exhibiting a pessimistic outlook on Thursday. Major indices, such as the Dow Jones and S&P 500, were largely in the red, with the Dow Jones down by 0.44% at 50,960 points and the S&P 500 falling by 0.4% to 7,770 points. The technology-focused Nasdaq also suffered a loss of 0.6%, settling at 27,366 points. The Nasdaq 100, representing the 100 largest non-financial companies by market capitalization, declined by 0.6% to 30,969 points. Stock markets remained largely unchanged on Wednesday.

The rise in oil prices on Thursday added to investor uncertainty, impacting US bonds. Brent crude oil for December delivery and US oil West Texas Intermediate (WTI) for November rose by 5.2% each, reaching $105.46 and $92.84 per barrel, respectively. Fears of supply disruptions due to the Middle East conflict and a potential hurricane targeting US offshore drilling areas contributed to the downward trend in prices. Speculations about possible new attacks by the United States on Iran further fueled the market volatility.

According to "The Atlantic" magazine, citing two government officials, the White House instructed the Defense Department to explore options for potential strikes against Iran before the November midterms. This revelation contradicts the prevailing assumption that President Donald Trump would avoid further escalation of tensions with Tehran ahead of the elections.