“We are entering an age of prolonged insecurity,” one former U.S. energy official said of what have become chronic threats on the Middle East’s energy core.
Mr. Musk, whose company SpaceX owns Starlink, has attacked the top executive of Delta Air Lines for not selecting the internet provider.
Deadly attacks on the main Saudi airport add to the challenges facing the country, as it seeks to maintain energy production and keep major events on track.
These are the stocks posting the largest moves in early trading.
HMV says it is looking for a new site in London's West End, but its current site is "unviable".
Mainland stocks fell on Monday with investors unsettled by higher global interest rates and trade tensions. In Hong Kong, the benchmark Hang Seng Index rose 59 points, or 0.2 percent, to 24,271 on turnover of HK$162.63 billion. The tech index dropped 28 points, or 0.7 percent, to 4,169 while the China enterprises index gained 20 points, or 0.3 percent, to 8,168. Banks and insurance stocks rose while chipmakers and AI stocks fell. On the mainland, the Shanghai Composite Index fell 16 points or 0.43 percent, to close at 3,797 on turnover of 714.9 billion yuan. The Shenzhen Component Index dived 256 points, or 2.03 percent, to 12,384 on turnover of 822.9 billion yuan while the ChiNext plunged 79 points, or 2.61 percent, to 2,963 on turnover of 392.3 billion yuan. The US launching probes into technology firms including Luxshare Precision Industry and Foxconn Industrial Internet further dented risk appetite. "The main anxiety comes from rising global yields," Caitong Securities said in its market outlook. "There's also the tail risk of a potential debt crisis" stemming from the weakest governments in the euro zone, the brokerage said. China's large-cap CSI300 Index dropped 0.7 percent to a 13-month closing low. Market reaction was muted after top securities regulator Wu Qing held a seminar with market participants on Saturday to hear their suggestions on improving the capital market. Investors also ignored draft rules published on Friday that would lower the threshold for setting up equity mutual funds. The market has been dogged by the threat of rising bond yields as the widening war in the Middle East have kept oil prices above US$100 a barrel, fuelling inflation concerns. In Seoul, the Kospi plunged 241 points, or 3.65 percent, at 6,384 to hit the lowest closing level since August 11 as traders returned from a long weekend and assessed renewed attacks across the Middle East that could further disrupt global energy supplies. (Reuters & Xinhua) The Nikkei in Japan was closed for a holiday. Edited by Edmond Fong
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