Global Market Crash | Japan's Nikkei, South Korea's KOSPI Plunge By Almost 7% As Crude Top $100
Asian stock markets fell sharply on Monday after oil prices surged on fears that escalating tensions in the Middle East could disrupt global energy supplies through the Strait of Hormuz, thus triggering a broad risk-off sentiment across the region. South Korea's KOSPI was among the worst hit, dropping 6.57% to 5,217.73, while Japan's Nikkei 225 slid 6.43% to 52,042.50, reflecting concerns over the impact of higher energy costs on import-dependent economies. Losses were widespread across the region. The Philippines' PSEi Composite fell 5.32%, while Australia's S&P/ASX 200 declined 3.67%. Indonesia's IDX Composite dropped 3.49% as investors moved away from risk assets.
