The Digester
general

Asian stocks plunge after Trump ultimatum to Iran

Mar 23rd 2026 · Iran

Key Asian indexes fell sharply and oil spiked after President Trump warned he would strike Iran's energy infrastructure unless Tehran reopened the Strait of Hormuz by 23:44 GMT Monday.

  • Japan's Nikkei 225 fell about 4 percent and South Korea's KOSPI fell about 4.5 percent in early trading.
  • Hong Kong's Hang Seng dropped about 2 percent while Australia's ASX 200 and New Zealand's NZX 50 fell about 1.6 percent and 1.3 percent respectively.
  • Brent crude briefly topped $114 a barrel before easing to about $112 at 02:00 GMT, with oil up more than 50 percent since the start of US-Israel strikes.
  • President Trump warned on social media he would 'obliterate' Iran's power plants within 48 hours unless Tehran reopened the Strait of Hormuz, setting a deadline at 23:44 GMT Monday.
  • Iran has pledged to close the strait and retaliate against regional energy and water infrastructure if attacked, fueling fears of a prolonged global energy shock.

Articles