Oil prices plunge after Trump says hopeful over Iran talks

Hong Kong - Equities, oil, and precious metals plunged Monday to extend the volatility that struck markets at the end of last week, with concerns about elevated tech valuations once again casting a shadow.
 Oil prices also tanked on easing US-Iran tensions. Both main crude contracts shed more than four percent as Donald Trump said he was hopeful of reaching a deal with Tehran after it warned that any attack on the Islamic Republic would trigger a regional conflict.
Washington has hit out at the country's leadership in recent weeks over its deadly response to anti-government protests last month, with Trump threatening military action while ordering the dispatch of an aircraft carrier group to the Middle East.
He has also pushed for an agreement over Iran's nuclear programme.

Investors resumed Friday's rollercoaster ride on trading floors, as they assessed geopolitical developments, the latest batch of earnings from market heavyweights, and the prospect of US interest rate cuts.
After a strong start to the year, fuelled by fresh hopes for artificial intelligence, stocks went into reverse last week as traders again questioned the wisdom of the vast sums of cash pumped into the sector and worries about when they will see returns.
That has also raised fears of a tech bubble that could soon pop after a surge to record highs last year.
The latest round of selling came after Microsoft announced a surge in spending on AI infrastructure, which revived concerns that companies could take some time before seeing a return on their investments.
Supreme Leader Ayatollah Ali Khamenei on Sunday likened the recent protests to a 'coup' and warned that a US attack would trigger a broad, regional conflict.