Asian stocks tumbled on March 9, 2026, after oil surged over 25% amid Middle East conflict.

Asian stock markets plunged on Monday, March 9, 2026, as crude oil prices surged over 25% to a peak of $119.45 per barrel amid escalating geopolitical tensions in West Asia. Japan’s Nikkei and South Korea’s KOSPI each fell around 7%, with other regional indices also declining. The spike, driven by a high-intensity conflict involving Iran, Israel, and the United States, including reported U.S.-Israeli strikes, triggered widespread risk-off sentiment and fears of supply disruptions. Global markets reacted with volatility, following a recent downturn in U.S. indices.