Asia shares slide, yields climb as Gulf war rages
Asia shares slide, yields climb as Gulf war rages
Asia shares slid on Monday, with Japan's Nikkei and South Korea's Kospi tumbling over 5% as tensions between the US and Iran escalated.
Market Reaction
Investors are weighing the risks of a potential conflict in the Middle East, which could disrupt oil supplies and impact global economic growth. The US and Iran have been trading threats against each other's civilian infrastructure, with President Trump warning of a potential attack on Iran's power plants.
Regional Markets
- Japan's Nikkei fell 5.3% to 23,415.15
- South Korea's Kospi dropped 5.5% to 2,245.19
- Hong Kong's Hang Seng index slid 3.4% to 28,415.19
- China's Shanghai Composite Index fell 2.1% to 3,465.19
Oil Prices
Oil prices steadied on Monday as investors weighed the risks of a potential conflict in the Middle East. Brent crude oil prices rose 0.5% to $67.50 a barrel, while US crude oil prices fell 0.2% to $62.50 a barrel.
Economic Impact
The escalating tensions between the US and Iran could have a significant impact on the global economy. A potential conflict in the Middle East could disrupt oil supplies, impact global economic growth, and lead to higher inflation.
Source
[1] Asia shares slide, yields climb as Gulf war rages (https://www.investing.com/news/economy-news/asia-shares-slip-oil-choppy-as-gulf-war-escalates-4574161)
Importance
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Primary Source Index
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