The geopolitical shuffle: sector leaders flip to losers almost overnight

The mounting tensions between the U.S. and Iran are starting to leave their mark on global markets, driven by growing fears over energy supply security.

With the Strait of Hormuz - through which about one-fifth of the world's oil passes - becoming a flashpoint, Brent crude has surged past $100 a barrel, sparking worries of extended turbulence in the energy sector.

This spike in oil prices is weighing on stocks and emerging economies, while also pushing inflation expectations higher in developed nations.

In response, investors are rotating into classic safe-haven assets like energy stocks, commodities, gold, and the U.S. dollar as geopolitical anxieties mount.