India, July 24 -- Geopolitical risks to global energy supplies as well as anxiety about AI-related capex remained the dominant theme for global markets amidst an escalating U.S.-Iran conflict and a bruising tech sell-off in Wall Street on Thursday. Brent Crude had closed above $100 on Thursday, and the tech-heavy Nasdaq Composite had suffered an erosion of more than 2 percent on Thursday.
Overall cryptocurrency market capitalization declined more than 1 percent and Bitcoin traded between $65,760 and $64,611 during the past 24 hours while markets worried about the earnings hit from surging AI-spending and the inflation impact from rising crude oil prices.
Though crude oil prices had surged on Thursday, the twin benchmarks are trading lower...