THE GUARDIAN: Stocks slump in Asia and Europe, gold slides and investors brace for higher oil prices after US president’s threat
Global stock markets dropped sharply on Monday after Donald Trump threatened to “obliterate” Iran’s power plants unless the strait of Hormuz is opened.
Stock markets in Asia and Europe slumped at the start of the week. Japan’s Nikkei share index dropping by 3.4%, China’s CSI 300 down 2.8%, and the South Korean Kospi fell 6.5%.
In Europe, Spain’s Ibex was off 1.9%, France’s CAC 40 index declined 1.5%, Germany’s Dax dropped 1.9% and the FTSE 100 fell nearly 1.5%.
The US president said on Saturday that he was giving Iran 48 hours – until shortly before midnight GMT on Monday – to open the strait, which carries about a fifth of global oil and liquefied natural gas supplies.
Tehran has said it will “irreversibly destroy” essential infrastructure across the Middle East, including vital water systems, if the US follows through on Trump’s threat. » | Lauren Almeida | Monday, March 23, 2026
