00:00Global stock markets came under pressure today as escalating tensions in the Middle East
00:05and fresh concerns over technology shares weigh on investor sentiment.
00:10The sell-off spread across Asia and into Europe,
00:12while oil prices climbed on fears of disruption to global energy supplies.
00:19South Korea led the declines, with the KOSPI plunging nearly 9% to its lowest level since late April.
00:25Shares in Japan and China also closed lower as investors assessed the risk that higher oil prices could raise costs
00:32and weigh on economic growth, particularly in energy-importing economies such as Japan.
00:38In Europe, shares extended last week's losses as investors monitored the latest developments between the US and Iran.
00:45European airline stocks were among the hardest hit on renewed hostilities.
00:49Around a fifth of the world's seaborne oil passes through the Strait of Hormuz,
00:53making any disruption a major concern for global energy markets.
Comments