Container Ship Sinks in Strait of Hormuz as Shipping Attacks Intensify

A container ship has sunk in the Strait of Hormuz amid escalating attacks on commercial shipping, raising serious concerns about the security of one of the world's most vital energy and trade corridors. The incident comes as Houthi attacks continue to put pressure on Saudi Arabia's crown prince, keeping regional stability in focus. The sinking underscores the growing risks faced by vessels navigating these waters. In Asia, South Korea's Kospi index plunged 8%, triggering a 20-minute trading halt as a deepening selloff in chip stocks exacerbated equity losses. The sharp decline reflects broader investor anxiety over the technology sector and global economic outlook. Meanwhile, US Treasuries rose as investors sought safe-haven assets, while hotter-than-expected US inflation data fueled expectations of further Federal Reserve tightening. Consumer prices recorded their biggest increase, adding to the case for additional rate hikes. The combination of geopolitical tensions and monetary policy tightening is creating a challenging environment for markets. This segment provides a comprehensive update on the major stories moving global markets.