Asia stocks fall as US-Iran tensions lift oil; S. Korea’s KOSPI slides 5%

Global stocks are falling as hostilities between the US and Iran escalate, specifically regarding control over the Strait of Hormuz. This geopolitical tension has pushed investors into a risk-off mode, leading to widespread market declines. In Asia, stocks are dropping as these tensions drive oil prices higher. Notably, South Korea’s KOSPI has experienced a significant slide of 5% amid the ongoing instability and the resulting impact on international financial markets and investor confidence.