Global Market Today | Asia shares slip, oil choppy as Gulf war escalates

March 23, 2026

Global markets tumbled as escalating US-Iran tensions and prolonged Israeli conflict sent oil prices soaring. Asian shares and futures dipped, with investors bracing for weeks of fighting. This inflationary shock has extinguished hopes for rate cuts, pushing central banks towards hikes and hammering bonds. The dollar strengthened as a safe haven.

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