Rocket trails are seen in the sky during a new missile attack by Iran over the Israeli coastal city of Tel Aviv on March 3, 2026.
Jack Ghez | AFP | Getty Images
Korean Kospi Tuesday, when trading resumed after the holiday, was the worst day in 19 months, weighed down by heavyweights Samsung Electronics and SK Hynix, which fell nearly 10% and 12%, respectively.
The index fell 7.24% to 5,791.91. Samsung shares plunged after reports that mass production at the company’s U.S. factory in Taylor, Texas, has been postponed from this year to 2027.
But the country’s defense stocks soared, with some stocks rising more than 20%.
Other Asia-Pacific markets also fell, deteriorating risk sentiment as the Iran conflict continued to escalate for a fourth day.
Oil prices continue to rise after Iran reportedly closed the Strait of Hormuz, with U.S. crude oil futures up 2.16% to $72.78 per barrel and Brent crude oil up 2.78% to $79.91 per barrel as of 2:38 a.m. ET.
On average, more than 14 million barrels per day passed through the Strait last year, accounting for nearly a third of global seaborne crude oil exports, according to Kpler data.
Japanese Nikkei Stock Average It fell 3.06% to 56,279.1 due to the weight of the consumer economy, and Topix fell 3.24% to 3,772.17.
Hong Kong’s Hang Seng index fell 1.25% by the close of trading, while mainland China’s CSI300 index fell 1.54% to close at 4,655.9.
Australia’s S&P/ASX 200 fell 1.34% to end at 9,077.3 after being one of the few markets to post modest gains on Monday.
In US markets overnight, the S&P 500 index rose 0.04% after rebounding in late trading. The Nasdaq Composite Index rose 0.36%, rebounding from a 1.6% decline.
The Dow Jones Industrial Average fell 73.14 points, or 0.15%, to settle at $48,904.78. The Dow Jones Industrial Average was down nearly 600 points at its low point.
—CNBC’s Sean Conlon and Yun Li contributed to this report.
