US EditionAsian shares decline as oil prices soar amid the war in Iran, echoing last week's Wall Street drop
Asian markets fell sharply with Japan's Nikkei down 4.5%, while Brent crude oil surged above $115 amid fears of prolonged U.S.-Iran conflict raising inflation risks.
- On Monday, Asian stock markets retreated amid escalating concerns over surging oil prices tied to the U.S. conflict with Iran.
- Brent crude soared $2.88 to $115.45 a barrel as investors feared the war would choke off oil shipments through the Strait of Hormuz.
- Japan's benchmark Nikkei 225 slipped 4.5% to 50,979.54, while South Korea's Kospi dove 3.2% to 5,264.32, reflecting broad market weakness across the region.
- Oil prices climbed further after President Donald Trump extended his self-imposed deadline to "obliterate" Iran's power plants to April 6, signaling prolonged conflict.
- Xavier Lee, senior equity analyst at Morningstar Research, warned of "heightened volatility in the near term" as investors brace for prolonged war to stunt economic growth.
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41 Articles
Rutland Herald
Global shares decline as oil prices soar amid fears about escalation in Iran
Asian shares are mostly declining, as worries continue about soaring oil prices and the potential for further escalation in the U.S. war with Iran. But shares rose moderately in early Monday trading in France, Germany and Britain. U.S. futures also…
The economies heavily dependent on oil imports suffer particularly severely from the Iran war. Especially in South Korea and Japan, prices declined significantly.
Japan and South Korea, which are highly dependent on oil imports, are sensitive to developments in Iran. Governments are switching to crisis mode.
Asian shares decline as oil prices soar amid the war in Iran, echoing last week's Wall Street drop | 100.1 FM and AM 1020 KDKA
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