Asian stocks slide as oil surges on Trump’s “extremely hard” Iran vow

Asian stock markets declined on Thursday, April 2, as rising oil prices and renewed uncertainty over the conflict involving Iran weighed on investor sentiment.

Japan’s benchmark Nikkei 225 index dropped 2.1% by 12:35 p.m. local time, while South Korea’s Kospi fell 3.9%. Hong Kong’s Hang Seng index was also lower, down 1%, as per CNN report.

The market reaction followed remarks by US President Donald Trump, who reiterated plans to intensify military action against Iran in the coming weeks.

“We are on track to complete all of America’s military objectives shortly, very shortly. We are going to hit them extremely hard over the next two to three weeks,” Trump said, adding that the war is “nearing completion.”

Despite the assertion, the speech provided little clarity on a potential exit strategy, doing little to reassure markets. Both global and US oil benchmarks surged after the address, contributing to the downturn in equities across the region.

By Tamilla Hasanova