Middle East Conflict Sparks Stock Skid and Oil Surge

US stock futures declined in Asia as tensions in the Middle East drove up oil prices and increased demand for safe-haven assets such as Treasuries, gold, and the Japanese yen. The sizzling September US jobs report raised expectations for inflation figures later in the week. The conflict between Israel and Hamas in Gaza raised concerns about potential disruptions to oil supplies from Iran, pushing Brent crude above $100 per barrel. The cautious mood in the market led to gains in sovereign bonds, while stock futures for the S&P 500 and Nasdaq declined. The euro weakened against the yen and the dollar. The market also anticipated potential easing by the Federal Reserve next year.