Asian markets tumble as Iran conflict raises global inflation fears
Asian stock markets took a noticeable hit on Wednesday, mostly because the conflict in Iran has everyone worried about rising prices and global stability.
Major indexes in Japan, South Korea, and Australia slid, dragging the MSCI Asia Pacific Index down 1.6%.
Even US markets dipped about 1%, despite President Trump trying to calm nerves over shipping security.
Interest rate cuts by US Fed might be delayed
Oil prices jumped amid concerns about shipping through the Strait of Hormuz and prospects for disrupted shipments, and gold crept up too—classic signs that investors are playing it safe.
South Korea's Kospi dropped sharply again, while European natural gas prices soared to a three-year high.
With all this tension and inflation talk, traders are rethinking how soon the US Federal Reserve might cut interest rates—some now expect a slower approach until things settle down.