Stock markets across Asia fell on Monday as escalating conflict involving Iran drove oil prices sharply higher, fuelling fears of inflation and a potential global recession, with investors reacting to disruption risks in the Strait of Hormuz and prolonged hostilities.
Japan’s Nikkei dropped 3.4%, South Korea’s benchmark fell 3.0%, and a broad Asia-Pacific index lost 1.3%. European futures also pointed lower.
Meanwhile, oil prices jumped to multi-year highs, with Brent crude nearing $116 a barrel, on track for its biggest monthly rise since the 1990 Gulf War.
Analysts said the surge reflects mounting risks to global supply as key shipping routes face disruption.
“The longer the Strait remains closed, the sharper the drawdown in supplies,” JPMorgan economist Bruce Kasman warned, adding that oil could rise towards $150 a barrel if disruption continues.
The latest spike followed a weekend of escalation. Iran-aligned Houthi forces launched missiles and drones at Israel, while attacks were also reported on regional energy infrastructure, including damage to Oman’s Salalah terminal.
At the same time, the Strait of Hormuz, a critical route for global oil supplies, remains heavily disrupted, with shipping and insurance activity severely curtailed.
The U.S. has increased its military presence in the region, deploying thousands of additional troops, while Iran warned against any potential ground offensive.
Pakistan said it is preparing to host talks aimed at easing tensions, though markets remain sceptical about the prospects for a near-term ceasefire.
Rising energy costs are feeding into expectations of higher inflation and tighter monetary policy.
Analysts warned the shock could tip major economies towards stagflation, with one noting the conflict is now “a powerful driver of global risk” as markets struggle to price its trajectory.
Despite the volatility, traditional safe havens have offered limited relief, underscoring the uncertainty facing investors as the conflict shows little sign of easing.
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Weekend strikes hit Iran’s Natanz nuclear site and missile facilities near Isfahan, as Tehran responded with missiles and drones targeting Tel Aviv, Haifa Bay, and Gulf assets. With U.S. reinforcements deployed and Hormuz tensions rising, the region faces a sharply escalated crisis.
The escalation of conflict involving the United States, Israel, and Iran since 28 February 2026 has moved beyond a regional security crisis to become a systemic shock to the global economy and our pockets.
The war in Iran has rapidly upended regional security, triggering spillover across the Middle East and raising fears of wider economic disruption that could threaten globalisation.
World Trade Organization (WTO) talks broke up with no agreement on Monday on a plan for reform or even on extending a moratorium on e-commerce, piling more pressure on the trade body that finds itself increasingly sidelined by economic nationalism.
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NASA is aiming to launch its Artemis 2 mission on Wednesday (1 April), sending astronauts on a 10-day journey around the Moon, officials confirmed. According to the Space Administration, the launch window is due to open at 23:24 GMT, with additional opportunities to 6 April if delays occur.
The four astronauts selected for NASA’s Artemis II mission have arrived in Florida, entering the final phase of preparations for the first crewed journey towards the Moon in more than five decades
Weekend strikes hit Iran’s Natanz nuclear site and missile facilities near Isfahan, as Tehran responded with missiles and drones targeting Tel Aviv, Haifa Bay, and Gulf assets. With U.S. reinforcements deployed and Hormuz tensions rising, the region faces a sharply escalated crisis.
Iranian Military Spokesman Lieutenant Colonel Ibrahim Zulfiqari has warned that American soldiers will become 'food for sharks' if U.S. President Donald Trump launches ground attacks against Iran. The threat comes after the U.S. military said it was deploying thousands of Marines to the region.
World Trade Organization (WTO) talks broke up with no agreement on Monday on a plan for reform or even on extending a moratorium on e-commerce, piling more pressure on the trade body that finds itself increasingly sidelined by economic nationalism.
Petrol price spikes triggered by the war in Iran are boosting used electric vehicle sales across Europe, online car platforms told Reuters, in an early sign that pain at the pump is pushing consumers away from combustion engines.
Meta Platforms is increasing compensation for top executives, including its first-ever offer of stock options, as it tries to fend off competition in the artificial intelligence (AI) race and incentivize leaders to stay with the company for several years.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
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