Global Markets Tank Amid Israel-Iran Conflict: Asian Indices Bleed, Crude Oil Prices Spike 13% in 2 Days

Asian stock markets are trading mixed today, March 3, amid the US-Israel-Iran war. Indian stock markets are closed today for Holi.

South Korea's Kospi is trading 7% lower at 5,800.
Japan's Nikkei index is trading 3% lower at 56,300.
China's Shanghai Composite is trading 1.50% lower at 4,100.
Hong Kong's Hang Seng is trading 1% lower at 25,750.
Pakistan's KSE 30 index is up 1.50% at 47,000.
Crude oil surges 13% in two days

Brent crude oil prices have surged more than 3% today, crossing $80 per barrel. Yesterday, it rose 10%. This means it has risen more than 13% in two days.

Experts believe that if this tension escalates further, oil prices could reach $120 per barrel. This could impact petrol and diesel prices in India.

In Delhi, petrol prices could rise from ₹95 per liter to ₹100. Diesel prices could rise from ₹88 to ₹92. Similar price increases are possible in other cities.

Mixed trading in the US market on March 2nd

The Nasdaq Composite, a tech-based index, rose 0.36% to close at 22,74.
The Dow Jones Industrial Average fell 73 points (0.15%) to close at 48,904.
The S&P 500 index rose 2 points (0.04%) to close at 6,881.
The Sensex closed down 1048 points yesterday.

The Indian stock market fell yesterday, March 2nd, due to the US-Israel and Iran wars. The Sensex fell 1,048 points (1.29%) to close at 80,239. The Nifty also fell 313 points (1.24%) to 24,866.

Foreign investors sold shares worth ₹3,295 crore on March 2.

Foreign investors (FIIs) sold shares worth ₹3,295 crore on March 2. Domestic institutional investors (DIIs) bought shares worth ₹8,593 crore.
In February, FIIs bought shares worth ₹11,002 crore. During this period, DIIs bought shares worth ₹17,324 crore.
In January 2026, FIIs sold shares worth ₹41,435 crore. During this period, DIIs bought shares worth ₹69,220 crore.
Pakistan's stock market plunged 9.8%

Pakistan's stock market experienced a significant decline on March 2. The KSE-30 index fell 4,996 points (9.73%) to close at 46,326. Heavy selling earlier forced a 45-minute trading halt, a lower circuit.