Asian Markets Slide as Trump-Iran Tensions Escalate, Oil Prices Volatile

• Asian share markets slid and the dollar firmed amid escalating threats between the US and Iran, with Israel planning for weeks more fighting.
• Iran threatened to strike Gulf neighbors' energy and water systems if the US hit its electricity grid, extinguishing hopes for an early end to the war.
• US President Trump issued a 48-hour ultimatum for Iran to open the vital Strait of Hormuz, which is largely closed to shipping.
• Stock markets in Australia, New Zealand, and Japan saw significant early declines, while S&P 500 and Nasdaq futures also dipped.
• Analysts warn the war could continue for weeks, potentially pushing oil prices to $150 a barrel and delaying supply normalization, impacting global inflation and interest rate expectations.