Stocks Slide in Asia as Oil Prices Near Monthly Record
Asian markets fell on Monday as Gulf tensions pushed Brent crude toward a record monthly rise. Surging energy costs have increased global inflation risks.
Stock markets across Asia plummeted on Monday as investors braced for a protracted conflict in the Gulf, which has already propelled global oil prices toward a record monthly surge. The escalating tensions have heightened fears of persistent inflation and a potential global recession. In the United States, President Donald Trump recently suggested the possibility of seizing Kharg Island in the Persian Gulf to disrupt exports from Iran, though he also noted that a ceasefire could be achieved quickly.
Meanwhile, Pakistan announced preparations to host diplomatic talks aimed at resolving the crisis, even as Tehran accused Washington of planning a ground invasion. The regional instability deepened as Yemen-aligned Houthi rebels launched their first strikes against Israel since the conflict began.
