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Australia's stock market dropped sharply amid global tensions over U.S. demands on Iran to reopen the Strait of Hormuz.
Australia's stock market plunged on Monday as global tensions rose following a U.S. ultimatum demanding Iran reopen the Strait of Hormuz within 48 hours or face military action.
The S&P/ASX200 fell 1.56% to 8,297.3 and the All Ordinaries dropped 1.70% to 8,484.7, marking a 10% decline from recent highs and erasing $322 billion in market value since conflict began on February 28.
Iran threatened to attack energy infrastructure and desalination plants in Gulf states hosting U.S. military bases.
The sell-off reflects investor fears over potential disruptions to global energy supplies and regional instability.
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El mercado bursátil de Australia cayó bruscamente en medio de las tensiones globales sobre las demandas de Estados Unidos a Irán para reabrir el Estrecho de Ormuz.