Asian stocks slide and oil climbs as traders await AI earnings and Russia sanctions news

what happened

Asian stock indexes mostly declined on Tuesday, while oil gained as investors weighed geopolitical risks ahead of results from major AI companies, according to Reuters. MSCI's Asia ex-Japan gauge lost 0.93%, Japan's Nikkei 225 dropped 1.28%, and South Korea's KOSPI sank 3.61%. The dollar index slipped 0.05% to 101.92, the euro edged up 0.06% to $1.12, the pound rose to $1.33 and the yen weakened to 158.57 per dollar.

Brent crude advanced 0.21% to $109.78 a barrel and WTI added 0.15% to $103.82. Traders are digesting an executive order signed by Donald Trump on Friday night that sets aside certain sanctions and tariffs tied to Russia, including penalties for purchases of its oil and gas. Trump said on Saturday that he has not yet reached a final decision. Spot gold fell 0.51% to $4,118.71 an ounce, and bitcoin slipped 0.67% to $81,386.40.

why it matters

Attention now shifts to earnings, with Meta reporting on Wednesday and Tesla, Lam Research and Texas Instruments due later in the week. Civil unrest in France has pushed investors toward havens and weighed on European equity futures. Fed officials show no urgency to raise rates again, which keeps the dollar and rate-sensitive assets in focus.

market impact

Oil and Russia-linked assets: eased sanctions could add supply and pressure Brent, while Asian equities weaken

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