Asian markets plunge as Israeli and Iranian strikes boost oil
Business
Asian markets took a big hit on Monday, with South Korea's KOSPI dropping more than 6.8%, enough to pause trading for 20 minutes, and Japan's Nikkei falling 3.4%.
The selloff happened as oil prices jumped to $95.45 a barrel, following Israeli airstrikes in Beirut and Iranian missile attacks, making investors extra nervous about inflation and global stability.
Bitcoin falls 16% below $63,000
The market chaos isn't just in Asia; US stocks are shaky after Nasdaq's steep fall last week, while bitcoin slid 16%, its worst week since 2022, now trading below $63,000.
With SpaceX's IPO plus upcoming listings from Anthropic and OpenAI expected to strain liquidity further, currencies like the dollar and euro are holding steady, but caution is everywhere.