Chicago – March 04, 2026
Asian stock markets fell for a third day in a row on Wednesday and oil prices moved higher as investors watch developments in the US-Israel war with Iran.
South Korea’s Kospi index plunged by 10% after trading was halted temporarily by a so-called circuit breaker, which aims to avoid panic selling. Japan’s Nikkei 225 was down by 3.6%, while Hong Kong’s Hang Seng index fell by 3%.
Brent crude oil was about 2% higher in Asia morning trade after surging over the last two days.
The conflict in the Middle East has rattled financial markets and global energy prices have soared this week after vessels near the crucial Strait of Hormuz shipping lane have come under attack.
Around a fifth of the world’s oil and gas usually flows through the narrow waterway between Iran and the United Arab Emirates (UAE), but traffic has almost entirely halted following Iran’s threats to “set fire” to ships.
Traffic through the strait has almost completely halted following Iran’s threats.
