Stocks, Bonds Extend Losses as Oil Climbs on Iran: Markets Wrap

Stocks extended their slide from record highs as a continued deadlock over the Iran war lifted oil prices and deepened a selloff in global bonds.

Asian shares fell as much as 1.1%, before paring losses, as South Korean stocks neared a correction. Futures on the S&P 500 Index fell 0.5% after the underlying gauge declined more than 1% on Friday as inflation concerns sent bond yields sharply higher. The dollar, the haven of choice during the Middle East conflict, held its gains after its best week since early March.