The situation remains tense with President Donald Trump adding five days to his Saturday ultimatum for Iran to reopen the Strait of Hormuz within 48 hours. Asian shares rebounded slightly, but U.S. and European futures fell in volatile trade. Meanwhile, Japan's core consumer inflation slowed below the central bank's 2% target in February for the first time in nearly four years, making it difficult for the Bank of Japan to raise borrowing costs. The ongoing Middle East conflict has left governments around the world scrambling to secure supplies and reduce demand.