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Asian Stock Markets Plummet 7% Amid Global Crash, Last 20 Minutes See Dramatic Shift
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Asian Markets Plunge 7% Amid Iran Tensions, Oil Surge; KOSPI Hardest Hit
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CNBC Awaaz
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03-03-2026, 12:51
Asian Markets Plunge 7% Amid Iran Tensions, Oil Surge; KOSPI Hardest Hit
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Asian stock markets experienced a massive sell-off, with several major indices falling up to 7% due to the Iran conflict and rising oil prices.
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South Korea's KOSPI Index plummeted by about 7%, leading to a 'sidecar' mechanism halting futures trading temporarily.
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Tech stocks like Samsung Electronics and SK Hynix saw significant declines, while defense sector stocks surged, indicating a shift to safer assets.
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Other Asian markets including Japan, Australia, Hong Kong, and China also closed with substantial losses.
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Rising crude oil prices, fueled by concerns over the Strait of Hormuz, intensified inflation fears and pressured equity markets globally.
Read Full Article on Cnbc in Hindi
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