Asian Stocks Fall, Oil Rises as Trump Threatens Iran

Asian stocks fell sharply in early trading while oil prices rose as the Middle East crisis escalated further, with US President Donald Trump threatening to destroy Iran’s main export terminal, Gulf News reported.

Japan’s Nikkei index fell 2.24%. (Photo: Kyodo News)

South Korea’s benchmark Kospi index dropped more than 4% around 0030 GMT, while Japan’s Nikkei index fell 2.24% before both pared some of their losses.

The price of the main US oil benchmark, West Texas Intermediate (WTI), rose 3.30% to $106.28 per barrel after closing above $100 on Monday for the first time since the war began.

Brent crude, the international benchmark, climbed 2.23% to $109.78 early Tuesday.