RIYADH: Global markets plunged on March 2 after US and Israeli strikes on Iran triggered Gulf-wide retaliation, disrupting energy and financial hubs and rattling investors worldwide.
Equities across Asia fell in early Monday trading as investors moved into safe-haven assets amid fears of prolonged conflict and supply disruptions in the energy-rich Middle East.
Oil prices surged sharply while global stock markets came under pressure, reflecting concerns that escalating tensions could fuel inflation and slow economic growth.
Asian markets tumbled in early trade, with Japan’s Nikkei 225 and South Korea’s Kospi declining by 2.7 percent and 4.3 percent, respectively.
Indian benchmark indices extended losses, with the BSE Sensex falling 1.9 percent and the NSE Nifty 50 dropping 1.88 percent as of 11:30 a.m. Saudi time.
