Morning Bid: Stocks dump more on oil shock fears

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry South Korean stock trading temporarily halted as KOSPI slides over 11% Asia stocks slide amid Iran tensions, mixed China PMIs; S.Korea slumps 11% Stocks close in the red as widening Middle East conflict sparks inflation fears Gold slips on stronger dollar; safe haven demand remains high amid Iran conflict (South Africa Philippines Nigeria) Morning Bid: Stocks dump more on oil shock fears By Economy Published 03/04/2026, 12:33 AM Updated 03/04/2026, 12:42 AM Morning Bid: Stocks dump more on oil shock fears 0 JP225 -3.89% CL 1.84% BX -3.82% KS11 -10.97% A look at the day ahead in European and global markets from Tom Westbrook and Wayne Cole Markets’ wartime selloff extended in Asia, with South Korea bearing the brunt of a flight from risk in the face of a potentially prolonged oil shock. [MKTS/GLOB] By mid-session the KOSPI - down almost 13% at one point - had shed 8% and two-day losses were the largest since 2009 as panic hit what had been one of the best trades of the year. Heavy selling also swept through Japan, where the Nikkei was down 3.7% and Taiwan stocks dropped 3.6%. Buyers, in what had been a crowded trade, were few. Thailand led emerging-market losses with a 7.7% slump. Much of Asia imports its energy through the Strait of Hormuz and faces an extra hit to energy costs via a stronger dollar. There had been some relief in markets late in New York on Tuesday when Trump posted he had ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for tankers in the Gulf, and might even use the U.S. Navy to escort shipping. However, the fact the administration had not thought about this and set it up before attacking Iran did not exactly instil confidence. Details were also lacking and analysts saw many problems ahead. While insurance was provided in the 1987 Iran/Iraq war it took considerable work to get under way and was limited in scope, cert...