Asian shares decline as tech sell-off and U.S.-Iran airstrikes rattle markets
By
Chan Ho-him
An everything bagel for the brain. Substantive, layered, well-seasoned.
Summary
Asian markets mostly fell, led by sharp declines in Japan and South Korea, following a tech sell-off on Wall Street. Oil prices initially surged after the U.S. launched airstrikes against Iran in response to an Army helicopter crash near the Strait of Hormuz that President Trump blamed on Tehran, but later retreated. Chipmakers including Micron Technology and AMD fell, dragging down the Nasdaq, while the S&P 500 slipped and the Dow edged slightly higher. The renewed military conflict dimmed hopes for a permanent end to the ongoing war, which has lasted over three months and continued to roil global markets.
Key quotes
· 3 pulledThe latest flaring of fighting dimmed hopes for progress toward a permanent end to the war, which has lasted more than three months and roiled markets already wavering from spates of heavy selling
Oil prices fell back after surging as the U.S. military launched attacks against Iran following the crash of an Army helicopter near the Strait of Hormuz
U.S. futures edged lower, after chipmakers including Micron Technology and AMD fell Tuesday on Wall Street
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