Asia stocks slide as US and Iran threaten to escalate war

(Peter Hoskins – BBC) Major stock markets in Asia slumped on Monday after Washington and Tehran threatened to escalate hostilities, as the Iran war enters its fourth week. Japan’s benchmark Nikkei 225 index was almost 3.6% lower, while South Korea’s Kospi fell by almost 6%. US President Donald Trump warned on Saturday that he would “obliterate” Iranian power plants if Iran did not open the key Strait of Hormuz shipping route. Iran said it would respond to any such strikes by targeting key infrastructure in the region, including energy facilities. Japan and South Korea have been particularly impacted by the conflict, as they are heavily dependent on oil and gas that would normally pass through the strait. – Asia stocks slide as US and Iran threaten to intensify war