Asian Stocks Plummet, Oil Surges as Iran War Escalates, Houthi Rebels Join Conflict

• Asian stocks sold off, with Japan and South Korea declining up to 5.3%, and the MSCI Asia Pacific Index down 2%.
• Crude prices climbed, with Brent crude advancing 2.7% to trade above $115 a barrel, fueling inflation concerns.
• Tensions intensified in West Asia as Iran-backed Houthi rebels entered the conflict and US military presence expanded.
• US equity-index futures retreated 0.5%, and European contracts tumbled 1.2%, while aluminum climbed 6%.
• Losses were partially pared after Trump mentioned good negotiations with Iran and a potential deal soon.