Market Jitters as Oil Prices Surge and Dollar Gains

Asian stocks fell on Friday and the dollar surged due to heightened military tensions in the Middle East. Key equity stocks took a hit after Blue Owl ceased quarterly redemptions, while oil prices climbed amid US-Iran tensions. Caution prevails among investors as corporate earnings loom.

Asian stocks experienced declines on Friday, with market anxiety fueled by rising oil prices and a strong dollar. The U.S. military's increased presence in the Middle East has contributed to investor apprehension.

Japan's Nikkei fell 1%, while Hong Kong's Hang Seng slipped 0.3% post-Lunar New Year. This follows a challenging session on Wall Street, where private equity stocks dropped significantly after Blue Owl's asset sales and redemption halt raised concerns about valuation stability and liquidity.

Oil prices hit a six-month high as U.S.-Iran tensions escalated. Walmart's cautious consumer outlook, a widening U.S. trade deficit, and restrained moves in currency markets point towards a weekend of uncertainty, according to analysts.

(With inputs from agencies.)