Tensions in Iran have sent oil prices soaring. As a result, Asia-Pacific markets are having a "
Black Monday in Asia: Oil Spike Triggers Meltdown as KOSPI Plunges 8%, Nikkei 7%
Middle East tensions just sent shockwaves through global markets. Asia-Pacific stocks are in freefall, with multiple exchanges seeing deep losses. South Korea's KOSPI briefly plunged over 8%, triggering an automatic circuit breaker. Japan's Nikkei 225 tanked more than 7%, while Vietnam's VN 30 dropped over 6%. Australia's S&P/ASX 200 and Indonesia's composite index both slid more than 4%. The broader MSCI Asia Pacific index was down over 3%. Oil's spike is now bleeding into equities—hard.
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