Key insights
- Escalating conflict in Iran triggers a global stock selloff and flight to safety. Asian markets are particularly hard hit, with the Nikkei and South Korean equities plunging. Trump's ultimatum to Iran adds to geopolitical uncertainty, increasing risk aversion and negatively impacting US equities.
(Bloomberg) -- A global selloff in stocks and Treasuries deepened as investors pared risk, with the war in Iran entering a fourth week and showing no sign of de-escalation. Gold slid for a ninth day, underscoring the broad-based retreat across asset classes.
Asian shares fell 2.7%, set to enter a correction, typically defined as a decline of 10% from a recent peak. The Nikkei index in Japan slumped 3.4% and South Korean equities plunged 4.8% on Monday as US President Donald Trump set a deadline for Iran to reopen a waterway key for the movement of oil and gas. https://finance.yahoo.com/news/traders-brace-turbulent-open-war-193000196.html