Global stock markets climbed on Thursday as investors continued pouring money into artificial intelligence-related companies, while closely watching a high stakes summit between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

Indian equity markets extended their losing streak on Monday, with benchmark indices falling sharply in afternoon trade as rising crude oil prices and weak global sentiment weighed on investors.

US President Donald Trump has once again pointed to record gains on Wall Street as proof of what he described as a “booming” US economy, even as the ongoing conflict with Iran continues to drive up living costs for many American households.

Global stock markets are trading at unsustainable levels and could face a sharp correction, according to a senior official at the Bank of England, who warned that current valuations do not fully reflect rising global risks.

Asian shares rallied sharply in Wednesday morning trading as oil prices tumbled following a two-week ceasefire agreement between the U.S. and Iran, which includes reopening the Strait of Hormuz.

Stock markets in Dubai and Abu Dhabi have lost around $120 billion in value since the start of the US-Israel military escalation involving Iran, placing the Gulf financial hubs among the hardest-hit markets globally.

Global markets showed mixed signals on Tuesday as escalating tensions in the Middle East pushed oil prices higher and kept investors cautious.

Oil prices fell sharply while European stock markets rebounded after US President Donald Trump said he had ordered a halt to strikes on Iran’s energy infrastructure, citing “very good” talks with Tehran.