Stock Losses Build on Iran War Woes, Korea Plunges: Markets Wrap

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Stock information displayed at the Australian Securities Exchange in Sydney.Stocks were sold off in Asia for a third straight day as investors grappled with mounting uncertainty over the duration of the Middle East conflict and inflationary pressures, damping appetite for risk.The MSCI Asia Pacific Index slumped as much as 3.4%, with South Korean stocks posting their biggest two-day drop since 2008 amid mounting panic across trading desks. The Asian moves snapped a late rebound in the US markets after President Donald Trump’s assurances on safeguarding shipping through the Strait of Hormuz helped calm nerves. Brent crude traded close to $82 a barrel.