March 23, New Delhi: Markets across Asia plunged on Monday following trade threats between the US and Iran.
Stock markets in Australia and New Zealand were down 1.7% and 1.1%, respectively, in early trading. Japan's Nikkei fell 3.5% to 51,514.78, while the broader Topix dropped 2.86% to 3,504.78 as of 0147 GMT. South Korean shares plunged, with the benchmark KOSPI down 5% at 5,491.96 as of 0131 GMT.
On Wall Street, S&P 500 futures dipped 0.1%, while Nasdaq futures lost 0.2%, as investors assessed the risks posed by the conflict and its impact on energy prices.
Oil prices remained largely unchanged as investors balanced threats from the US and Iran against the release of millions of barrels of Iranian oil following the lifting of US sanctions. Brent crude futures fell 8 cents to $112.11 a barrel after settling at a high not seen since July 2022 on Friday, while U.S. West Texas Intermediate was at $98.17 a barrel, down 6 cents after a 2.27% gain in the previous session.
(File Video)
