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Asian stock markets plunge amid Trump’s ultimatum on Iran

Asian stock markets plunge amid Trump’s ultimatum on Iran

Key indexes in Japan, South Korea and Hong Kong tumble as Iran threatens attacks on energy infrastructure across region. Published On 23 Mar 202623 Mar 2026 Stock markets in the Asia Pacific have fallen sharply amid US President Donald Trump’s ultimatum warning Iran to reopen the Strait of Hormuz or face the annihilation of its energy infrastructure. Japan’s benchmark Nikkei 225 and South Korea’s KOSPI plunged 4 percent and 4.5 percent, respectively, in early trading on Monday. Recommended Stories list of 4 itemsend of list In Hong Kong, the Hang Seng Index tumbled about 2 percent. Australia’s ASX 200 dropped about 1.6 percent, while the NZX 50 in New Zealand dipped about 1.3 percent. Futures on Wall Street, which are traded outside of regular market hours, saw moderate losses, with those tied to the S&P500 and the Nasdaq Composite down about 0.5 percent. Oil prices remained volatile amid fears of further disruption to global energy supplies. Futures for Brent crude, the international benchmark, rose more than 1.5 percent to top $114 a barrel, before easing to about $112 as of 02:00 GMT. Trump on Saturday threatened to “obliterate” Iran’s power plants within 48 hours if Tehran does not end its effective blockade of the strait, through which about one-fifth of global oil and natural gas exports usually transit. Tehran has pledged to completely close the waterway, which is still being transited by a small number of Chinese, Indian and Pakistani-flagged vessels, and launch retaliatory attacks on energy and water infrastructure across the region if Trump follows through on his threat. Based on the timing of Trump’s warning on Truth Social, the deadline for his ultimatum is set to expire at 23:44 GMT on Monday. A woman stands beside a sign for prices at a gasoline station in Quezon City, Philippines, on March 19, 2026 [Aaron Favila/AP] Trump’s threat has added to fears of a cascading global energy crisis as the US and Israel’s war on Iran approaches the one-month mark with no clear end in sight. Advertisement Oil prices have surged more than 50 percent since the start of the war, which began with US-Israeli strikes on February 28. Analysts have warned that energy prices are likely to rise significantly further if the strait remains effectively closed, with some observers predicting oil to hit $150 or even $200 a barrel. Trump on Sunday held a phone call with UK Prime Minister Keir Starmer to discuss the situation in the Middle East, including the effective closure of the strait. The two leaders agreed that unblocking the strait is “essential to ensure stability in the global energy market”, Starmer’s office said in a statement. Trump has provided conflicting messages about the goals of the war and how long it might last. Hours before issuing his ultimatum on Saturday, Trump said that his administration was “very close to meeting our objectives as we consider winding down” military operations against Iran. Israeli military spokesperson Lieutenant Colonel Nadav Shoshani last week told reporters that officials had detailed plans for at least three more weeks of war. Adblock test (Why?)

Immense damage seen in Iran’s streets after air strikes

Immense damage seen in Iran’s streets after air strikes

NewsFeed Videos show the aftermath of strikes in Iran, as search teams recover bodies from rubble. Residents are using torches to look for loved ones, as air raids appear to have knocked out power in some parts. Iran’s health ministry says more than 1,500 people have been killed during the US and Israel’s war. Published On 23 Mar 202623 Mar 2026 Click here to share on social media share2 Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)

Trump issues 48-hour Hormuz Strait ultimatum, threatens Iran power plants

Trump issues 48-hour Hormuz Strait ultimatum, threatens Iran power plants

Tehran responds to Trump’s threat by saying all US energy infrastructure in the region will be targeted if Iran is attacked. Published On 22 Mar 202622 Mar 2026 United States President Donald Trump has threatened to attack Iran’s power plants if freedom of navigation is not fully restored at the Strait of Hormuz within 48 hours, a dramatic escalation as the US-Israeli war on Iran continues for a fourth week. The statement on Saturday came as Trump faces increasing pressure to secure the vital waterway that Iran has promised to keep closed to “enemy ships”, leading to soaring oil prices and plunging stock markets. “If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST,” Trump, who is in his Florida home for the weekend, wrote on Truth Social at 23:44 GMT. He did not specify which plant he was referring to as the biggest. Following Trump’s threat, the Iranian army said it would target all energy infrastructure belonging to the US in the region if Iran’s fuel and energy infrastructure were attacked. Trump’s escalatory comments came barely a day after he talked about “winding down” the war that he launched alongside Israeli Prime Minister Benjamin Netanyahu on February 28, when the US and Iran were engaged in nuclear negotiations. In a social media post on Friday, Trump said the US was “getting very close to meeting our objectives as we consider winding down our great Military efforts in the Middle East”. Key waterway Shipping traffic through the Strait of Hormuz, where a fifth of the world’s oil and gas passes through during peacetime, has virtually ground to a halt since the early days of the war. Advertisement Iran has said the Strait of Hormuz is open to all except the US and its allies, with Minister of Foreign Affairs Abbas Araghchi saying last week that he had been “approached by a number of countries” seeking safe passage for their vessels. “This is up to our military to decide,” he told the US television network CBS, adding that a group of ships from “different countries” had been allowed to pass, without providing details. The head of US Central Command, Admiral Brad Cooper, asserted on Saturday that Iran’s ability to attack vessels on the strait had been “degraded” after US fighter jets dropped 5,000-pound (about 2,300kg) bombs on an underground Iranian coastal facility storing antiship cruise missiles and mobile launchers earlier this week. The strike also destroyed “intelligence support sites and missile radar relays” used to monitor ship movements, Cooper said. Reporting from Washington, DC, Al Jazeera’s Manuel Rapalo said there seemed to be a “gap between what the White House appears to want in the Strait of Hormuz and what the US military says they have already accomplished”. “It is interesting, to say at the very least, to hear Trump talking about a major escalation, given the fact that we’ve been hearing throughout the course of the day how much damage the US has done, supposedly, to Iran’s ability to target oil tankers and vessels navigating through the strait.” Adblock test (Why?)

Will the Houthis join Iran in war against Israel and the US?

Will the Houthis join Iran in war against Israel and the US?

The Yemeni armed group says all options are on the table. As the US-Israeli war against Iran drags on, Yemen’s Ansar Allah, or the Houthis, have stayed out of the conflict. But that could change. They have said they consider themselves directly concerned and could take a position alongside Iran. The armed group has attacked Israel and shipping in the Red Sea in recent years. If a new front opens up, global trade could be further disrupted in another maritime gateway. Shipping is already largely halted in the Strait of Hormuz, causing significant losses worldwide. So, will the Houthis join the war? And what difference could that make for this volatile region? Presenter: James Bays Guests: Farea al-Muslimi – research fellow in the Middle East and North Africa programme at Chatham House Khaled Batarfi – political analyst who specialises in Saudi Arabian foreign policy Rockford Weitz – director of the Fletcher Maritime Studies programme at Tufts University Published On 22 Mar 202622 Mar 2026 Click here to share on social media share2 Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)

What we know about Iran’s latest attacks on Israel

What we know about Iran’s latest attacks on Israel

NewsFeed Israel’s air defence system failed to stop at least two Iranian missile strikes on southern Israel, in retaliation for an attack on Iran’s Natanz nuclear site. More than 100 Israelis have been injured in Arad and Dimona, with dozens of buildings destroyed. This is what we know. Published On 22 Mar 202622 Mar 2026 Click here to share on social media share2 Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)

Iran war live: Trump says no ceasefire as Khamenei issues defiant message

Iran war live: Trump says no ceasefire as Khamenei issues defiant message

blinking-dotLive updatesLive updates, Trump calls NATO cowardly over lack of support for Iran war, says Strait of Hormuz should be protected ‘by other nations who use it’. Published On 21 Mar 202621 Mar 2026 Click here to share on social media share2 Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)

Al Jazeera reporter’s journey from Jordan to Iraq

Al Jazeera reporter’s journey from Jordan to Iraq

NewsFeed Al Jazeera’s Nicolas Haque recorded his journey on the long road from Amman, Jordan to Baghdad, Iraq as he deploys to cover the US-Israeli war on Iran. Along the 900km drive he found tight security and people largely unfazed by the conflict. Published On 21 Mar 202621 Mar 2026 Click here to share on social media share2 Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)

Aid flotilla for Cuba sets sail from Mexico

Aid flotilla for Cuba sets sail from Mexico

NewsFeed “Cuba, yes! Blockade, no!” An aid flotilla from Mexico is sailing for Cuba as the country suffers under a tightening US fuel blockade. Published On 21 Mar 202621 Mar 2026 Click here to share on social media share2 Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)

Palestinians bury four women killed in Iranian missile attack

Palestinians bury four women killed in Iranian missile attack

NewsFeed “It’s not our war.” A small occupied West Bank community has buried four women killed in a hair salon during an Iranian missile attack meant for Israel. Published On 20 Mar 202620 Mar 2026 Click here to share on social media share2 Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)