Anyone checking the markets first thing this morning probably noticed another bombshell from the Middle East: the U.S. State Department has ordered non-emergency government employees and their families stationed in Saudi Arabia to leave immediately.

【Evacuation order issued】

The official reason is that Houthi hostilities against Saudi Arabia have become increasingly frequent, with civilian airports and critical infrastructure repeatedly coming under attack. The U.S. Embassy in Saudi Arabia issued a security alert the same day. This means it’s not diplomatic rhetoric—the U.S. has judged the risk serious enough to take decisive action.

【Asia-Pacific markets hit first】

South Korea’s KOSPI【fell more than 4%】, while SK Hynix【dropped over 5%】and Samsung Electronics【fell over 4%】. This means the first wave of panic selling hit tech stocks.

The Nikkei 225 closed 【down 2.65%】 at 【62,907.84 points】, its lowest level since late July. This means money in the Asia-Pacific region is voting with its feet.

Europe and the U.S. weren’t spared either: Nasdaq futures fell 【about 1.5%】 and S&P 500 futures 【about 0.8%】. This means U.S. stocks are likely to open lower and pick up where futures left off.

The 30-year U.S. Treasury yield 【fell 3 basis points】 to 【5.38%】. This means long-term money is seeking shelter in bonds, and the old “cash is king” playbook is back.

【Oil prices were first to surge】

Brent crude climbed above 【$110 per barrel】, briefly breaking through 【$111 per barrel】 intraday. This means the flames of energy inflation have been reignited, rate-hike expectations are tightening again, and the Fed’s late-October decision just got more interesting.

【Crypto couldn’t hold up either】

Bitcoin slid from around 【$84,700】 to around 【$82,100】. This means that in the face of macro-driven risk aversion, even Bitcoin moves in sync with the broader market—no one is an island.

Ether hovered around 【$2,441】. With macro forces draining liquidity, its weakness is more pronounced.

$BNB held steady around 【$740】, proving relatively resilient. This means that in extreme market conditions, actual demand for platform tokens provided some support, keeping them from falling along with everything else.

【What to watch next】

Geopolitical tensions won’t go away anytime soon, and oil and stock market volatility will likely continue. For us, keeping some cash on hand and avoiding an overextended position is more practical than trying to call the bottom. When the situation genuinely eases and safe-haven money returns, that will mark the start of a new round of opportunities.