Asian shares decline as oil prices soar amid the war in Iran, echoing last week's Wall Street drop
Asian shares have declined due to rising oil prices and concerns over the US-Iran conflict, while European shares have risen moderately. The increase in oil prices has led to worries about inflation and its potential impact on Asia's economic growth.
Asian shares fell on Monday due to concerns over soaring oil prices and the US-Iran conflict. Japan's Nikkei 225 slipped 2.8% to 51,885.85, while Australia's S&P/ASX 200 lost 0.7% to 8,461.00. In contrast, European shares rose, with France's CAC 40 edging up 0.2% to 7,716.30. Oil prices have jumped, with US crude rising to $101.59 a barrel and Brent crude soaring to $115.98 a barrel. The conflict has raised concerns about inflation and its potential impact on Asia's economic growth. Investors are bracing for a potentially long-lasting conflict.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.