Japanese, South Korean, Australian, Taiwanese, and Hong Kong stock indices fell slightly as the US-Iran conflict fueled investor concerns about energy-driven inflation. Oil prices broke the $100 per barrel mark for the first time since June on Wednesday after the US attacked five Iranian oil tankers. Iran retaliated with missile strikes against US forces in Jordan and the attacking ships. Nick Twidale, chief market strategist at ATFX Global, said traders who held back from selling stocks in hopes of a Middle East peace agreement may now “trigger selling as the reality of a protracted conflict becomes more apparent.” With the US and Iran launching attacks near the Strait of Hormuz, and Saudi Arabia embroiled in conflict with Yemeni forces, the crisis seems to have no end in sight.
