Stories

Wed, 04 Mar 2026

Wed, 04 Mar 2026 Asia stocks tumble for third day, oil edges up as markets track Iran war

The conflict in the Middle East has rattled financial markets and global energy prices have soared.

* Asian stock markets fell for the third consecutive day due to tensions between the US, Israel and Iran.
* South Korea's Kospi index plummeted by over 10% after being temporarily halted by a circuit breaker mechanism.
* Japan's Nikkei 225 declined by 4%, while Hong Kong's Hang Seng index dropped by 3%.
* Brent crude oil prices rose by around 1% in Asia morning trade due to concerns over global energy supplies.
* The conflict in the Middle East has led to disruptions in shipping and commercial flights, with traffic through the Strait of Hormuz almost completely halted.
* US President Donald Trump said that the US Navy will protect ships in the region "if necessary" to prevent an energy supply crunch.
* South Korea's Kospi is experiencing one of its worst days in decades, with the exchange being automatically halted for 20 minutes due to major falls.
* Other markets around the world also fell sharply, including the UK's FTSE 100 and Germany and France's main indexes.