Stock selloff builds as Iran war widens, oil gainsSigns are displayed on empty fuel dispensers at a Shell petrol station that ran out of fuel, in Sydney on Monday. Equities in Japan and South Korea slumped more than 4%, while the broader MSCI Asia Pacific Index dropped 2.4%, as investors cut exposure on concern that higher crude oil prices will weigh on economic growth. The moves came as additional US troops arrived in the Middle East, fanning fears of a risky ground attack on Iran. Some Wall Street bond-fund managers say markets are underestimating the risk that the US war in Iran will cause a sharp slowdown in an already sputtering economy. Oil may hit a record $200 a barrel if the Iran war drags on until June, with the Strait of Hormuz staying shut, Macquarie Group warned.

Source: Bangkok Post March 30, 2026 03:05 UTC