Stocks slump, oil gains on worsening war in Middle East

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices jump over 3%, WTI touches $100/barrel on Iran escalation Brent tops $110 after hit on world’s largest natural gas field, Fed uncertainty Gold prices hit over a one-month low after Fed holds rates steady as expected Stocks end in the red after Fed expresses uncertainty over impact of oil shock FLASH SALE (South Africa Philippines Nigeria) FLASH SALE Stocks slump, oil gains on worsening war in Middle East By Economy Published 03/18/2026, 09:19 PM Updated 03/18/2026, 09:24 PM Stocks slump, oil gains on worsening war in Middle East 1 US Dollar Japanese Yen -0.09% JP225 -2.72% DX -0.20% CL 2.34% NG 1.28% KS11 -2.57% MIPFJIN00PUS -1.74% LCOmdc1 0.00% By Ankur Banerjee SINGAPORE, March 19 - Stocks slid, oil prices jumped while the U.S. dollar was steady on Thursday after major escalation in the U.S. and Israel’s war with Iran rattled investors while hawkish tone from the Federal Reserve set the stage for the rest of the central bank meetings. Iran accused Israel of striking its facilities in the huge South Pars gas field on Wednesday and retaliated by vowing attacks on oil and gas targets throughout the Gulf, firing missiles at Qatar and Saudi Arabia. The hits to energy infrastructure sent U.S. crude futures more than 3% higher to $99.39 per barrel. Natural gas rose over 5%, while Brent futures rose to $111.19 a barrel in early trading.[O/R] In stocks, Japan’s Nikkei was down 2.5%, while South Korean equities sank 2.5%. MSCI ’s broadest index of Asia-Pacific shares outside Japan fell more than 1%. European futures were down more than 1.5%. "This latest escalation feels like a turning point for markets because the conflict is no longer just about military headlines or Strait of Hormuz closure," said Charu Chanana, chief investment strategist at Saxo in Singapore. "It is now hitting the plumbing of the global energy system. What is unsettling markets now is the growing stagflation risk... It means this is n...