Asia stocks slump as markets brace for energy shock
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Published on March 4, 2026.
Asian stocks have fallen as markets anticipate a potential energy shock, with benchmark Brent crude oil futures rising more than 12% for the week at $81.40 a barrel. This comes after the U.S. and Israeli forces have been pounding Iran for four days and Iranian drones and missiles have targeted Gulf oil refineries and U.K. embassies in Saudi Arabia and Kuwait. The selloff led to a drop in the won to a 17-year low. The Aussie dollar also dropped 0.8% as traders cashed out of winning bets to cover losses. The euro has fallen below $1.19 as investors anticipate Europe will be hit hard by higher energy costs.
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