Global Markets:
- Asian Stock Markets : Nikkei down 6.91%, Shanghai Composite up 1.13%, Hang Seng down 2.64% ASX down 3.43%
- Commodities : Gold at $5,094.61 (-1.20%) Silver at $83.060 (-1.48%), Brent Oil at $116.13 (25.22%), WTI Oil at $114.01 (27.79%)
- Rates : US 10-year yield at 4.205, UK 10-year yield at 4.6340, Germany 10-year yield at 2.8643
News & Data:
- (USD) Core Retail Sales m/m 0.0% to 0.1% expected
- (USD) Retail Sales m/m -0.2% to -0.3% expected
- (USD) Non-Farm Employment Change -92K to 58K expected
- (USD) Unemployment Rate 4.4% to 4.3% expected
Markets Update:
Asian stock markets are tumbling on Monday following negative cues from Wall Street on Friday, as investors remain cautious about the escalating conflict in the Middle East, which has now entered its tenth day. Israel has intensified air strikes on Iran, while the United States warned that its attacks on Iran could “surge dramatically.” Heightened geopolitical tensions have increased uncertainty across global markets.
Crude oil prices have surged sharply over the past week as the conflict between the U.S. and Iran spreads across the Middle East and spills over into regions including Cyprus, Sri Lanka, Turkey and Azerbaijan. The widening conflict has raised fears of a global energy crisis, potentially disrupting trade, increasing inflationary pressures and weakening investment sentiment worldwide.
The Australian stock market is sharply lower, extending losses from the previous three sessions. The benchmark S&P/ASX 200 index has fallen more than 4 percent, slipping below the 8,500 level as financial, mining and technology stocks decline sharply. Major miners such as BHP Group, Rio Tinto and Fortescue are all under pressure. However, energy stocks have posted gains as rising crude oil prices support the sector.
In Asia, Japan’s Nikkei 225 index has plunged nearly 7 percent, dragged down by heavy losses in technology, financial and export-oriented companies. SoftBank Group and major chip-related firms have recorded steep declines.
Elsewhere in Asia, South Korea and Taiwan have dropped sharply, while markets in Hong Kong, Singapore and Indonesia are also trading significantly lower.
Upcoming Events:
- 11:50 PM GMT – JPY Final GDP q/q
The post Monday 9th March 2026: Asian Markets Tumble as Middle East Conflict Escalates and Oil Prices Surge first appeared on IC Markets | Official Blog.