Global Markets: Stocks tumble as Middle East air war fans inflation fears

SINGAPORE: A selloff in stocks deepened and the dollar strengthened on Tuesday as investors considered the implications of US and Israeli strikes on Iran on energy prices and the global economy. MSCI’s broadest index of Asia-Pacific shares outside ​Japan fell 2.9 percent to extend losses for a second day, led by a 7.2 percent plunge in Korean shares as the country reopened from a holiday with its biggest one-day decline since August 2024. Tokyo’s Nikkei 225 tumbled 3.1 percent and S&P 500 e-mini futures were down 0.9 percent.

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