Stock Losses Deepen, Oil Extends Advance on Iran: 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 1000The Nikkei 225 Stock Average displayed outside a securities firm in Tokyo, Japan, on March 2.Asian stocks extended their losses as a surge in oil prices linked to the Middle East conflict fueled inflation concerns, sending bonds lower and prompting traders to scale back bets on interest-rate cuts. Gold gained on haven demand.The MSCI Asia Pacific Index dropped as much as 2%, with the Kospi gauge in South Korea — the world’s second-best-performing market this year — falling as much as 4.1% upon return from a long weekend. Futures contracts for the S&P 500 Index slipped 0.6%, indicating stocks may remain under pressure.