Asian Stocks Tumble as Iran-US Strikes Escalate, Oil Tops $92 and Gold Drops 2%
Updated
Updated · Reuters · Jun 10
Asian Stocks Tumble as Iran-US Strikes Escalate, Oil Tops $92 and Gold Drops 2%
3 articles · Updated · Reuters · Jun 10
Summary
MSCI Asia-Pacific ex-Japan fell about 3%, Japan's Nikkei lost 2% and South Korea's KOSPI slumped nearly 7% after Iran and the U.S. exchanged their biggest strikes since an April ceasefire.
Brent crude rose 0.7% to $92.08 and WTI gained 0.6% to $88.73, a muted move that analysts said showed markets still see the conflict as headline risk rather than a full macro shock.
Iran said it hit a U.S. base in Jordan and 21 Gulf targets after American strikes near the Strait of Hormuz, while the U.S. said it struck Iranian air-defense and radar sites after a U.S. Apache was downed.
Tech selling also deepened before U.S. inflation data, with S&P 500 futures down 0.5% and Nasdaq futures off 0.86% as traders fully priced in a 25-basis-point Fed hike by December.
Gold slid 2% to $4,174.20, the dollar held firm and the yen stayed near 160 per dollar, keeping intervention risks and broader war-driven inflation pressure in focus across Asia.