Stocks across Asia fell sharply on Monday morning while oil prices climbed, after Iran fired missiles at Israel and following heavy losses on Wall Street.
At 9:53 am (0053 GMT), Japan’s Nikkei 225 was down 3.41 percent at 64,318.06 points. South Korea’s Kospi dropped 6.81 percent to 7,604.98.
Brent crude rose 2.4 percent to $95.32 per barrel. West Texas Intermediate also gained 2.3 percent to $92.59.
Air raid sirens sounded across Israel on Sunday as its military said it intercepted incoming Iranian missiles. It marked the first such barrage since an April ceasefire in the Middle East conflict.
Iran’s Revolutionary Guards described the attack as a “warning” after Israel struck Beirut’s southern suburbs earlier in the day. They also warned of wider strikes if aggression continues.
On Friday, Wall Street ended sharply lower. Key indices fell due to a major sell-off in technology stocks after a recent AI-driven rally.
