Stocks slide worldwide as US–Israeli war on Iran drives oil prices higher

2026-03-09 - 12:44

Global stock markets fell sharply on Monday while oil prices surged past $100 a barrel after the United States and Israel expanded military strikes on Iran, raising fears of disruption to global energy supplies. Financial markets reacted with losses across Asia and Europe as traders responded to the risk that the conflict could halt oil shipments through the Strait of Hormuz, a route that carries about one fifth of the world’s crude exports.