Asian stocks slide as Iran conflict stirs inflation fears; oil gains

Asian stocks extended their slide for a third straight session as markets reckon with the risk of a widening Iran war that could spur global inflation. Traders trimmed bets on Federal Reserve rate cuts while oil prices edged higher on renewed concerns about shipping through the Strait of Hormuz. Gold also rebounded as investors sought haven assets amid heightened geopolitical risk.

Across the Atlantic, U.S. equities showed a mixed picture, with some technology and healthcare names posting gains while others lagged. Notable movers included Coinbase Global, Moderna, Robinhood Markets and Seagate Technology, which led the upside, while Clorox, APA and Amcor were among the notable decliners. The uneven moves underscored persistent caution as investors weigh potential spillovers into earnings and consumer demand.

In India, strategists warned that escalating Middle East tensions could weigh on the stock market through higher oil import costs and inflation pressures. Analysts suggested energy- and trade-linked sectors might underperform versus global peers, and the rupee could come under pressure if oil stays elevated. While the global backdrop remains volatile, many traders are watching for any signs of de-escalation or policy pivots that could support risk appetite.

Markets remain highly sensitive to headlines on diplomacy and central banks. For now, investors are bracing for further volatility as officials across regions weigh responses to the evolving crisis and monitor potential supply disruptions that could ripple through equities, currencies and commodity markets.

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