Shafaqna English– Asian equities tumbled at Wednesday’s opening session, caught in the crossfire of a global bond-market rout and escalating geopolitical tensions, as fresh US airstrikes on Iran propelled crude oil to five-week highs.
The MSCI Asia-Pacific index slid 0.8%, with South Korea’s KOSPI plunging 3% and Japan’s Nikkei shedding 2.2%, while S&P 500 futures remained flat.
Brent crude extended its rally to $95.34 a barrel, fueled by fears of supply disruptions in the Strait of Hormuz, which analysts warn have reignited inflation jitters and triggered simultaneous selloffs in stocks and bonds worldwide.
The 10-year Treasury yield edged up to 4.798% and the dollar index held firm near 99.67, reflecting safe-haven flows.
On Wall Street overnight, both the S&P 500 and Nasdaq fell as elevated government bond yields weighed on risk appetite.
This came despite ISM data showing US manufacturing activity moderated in August but stayed in growth territory.
Traders now assign a 67% probability of a Fed rate hike at the September meeting—up sharply from 39.6% a week earlier—though uncertainty persists. In commodities and crypto, gold held steady at $4,328.59 per ounce, while bitcoin dipped to $77,246.57 and ether eased to $2,412.60.
Source: Reuters