Wall Street saw even sharper swings earlier in the war, when hopes rallied for a reopening of the Strait of Hormuz, only to get quickly dashed.

Asian stocks are trading lower, tracking losses on Wall Street after US stocks fell from record highs

Oil prices fell back after rising earlier on escalating tensions in the war between the U.S. and Iran.

Wall Street saw even sharper swings earlier in the war, when hopes rallied for a reopening of the Strait of Hormuz, only to get quickly dashed.