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In a scene marked by rising tensions, fragments of a NATO air defense system, which successfully intercepted a missile from Iran, were discovered in Dortyol, located in Turkey’s southern Hatay province, on March 4, 2026. This moment was captured in a video shared by Ihlas News Agency through Reuters.
As the new week commenced, Asia-Pacific stock markets experienced a downturn. Investors grappled with the implications of a U.S. naval blockade on Iranian ports, following unsuccessful negotiations between Washington and Tehran aimed at resolving the ongoing Middle Eastern conflict.
The collapse of talks over the weekend in Islamabad has rekindled fears that the conflict between the U.S. and Iran might extend longer than previously anticipated. This uncertainty has driven oil prices upward, threatening to place additional financial burdens on economies around the globe.
Sunday saw a significant spike in crude oil prices after discussions concluded without a resolution, prompting the U.S. to proceed with blocking Iranian port traffic. West Texas Intermediate saw a sharp increase of 7.07%, reaching $103.40 per barrel by 03:34 a.m. ET, while Brent crude climbed 6.79%, hitting $101.67 per barrel.
Amidst these developments, U.S. President Donald Trump is reportedly contemplating the resumption of airstrikes on Iran, as reported by the Wall Street Journal. This comes after Trump agreed to a two-week ceasefire last Tuesday, contingent upon Tehran allowing ships to navigate through the crucial strait. Previously, Trump had threatened to target Iran’s infrastructure, including bridges and power plants, with bombing campaigns.
U.S. President Donald Trump has reportedly weighed resuming airstrikes on Iran, according to the Wall Street Journal. Trump last week agreed to a two-week ceasefire on Tuesday in exchange for Tehran allowing ships to pass through the strait. He had previously threatened to bomb every bridge and power plant in Iran.
Japan’s Nikkei 225 ended Monday’s session 0.74% lower, while the Topix declined 0.45%. South Korea’s Kospi closed the session at 0.86% lower at 5,808.62, while the small-cap Kosdaq gained 0.57% to 1,099.84 in choppy trade. The S&P/ASX 200 fell 0.39% to 8,926.
Mainland China’s CSI300 index ended the session on Monday 0.21% higher, while Hong Kong’s Hang Seng index was 1.01% lower in afternoon trade.
India’s Nifty 50 was last down 1.04%, while the BSE Sensex fell 1.01%.
Overnight on Wall Street, Dow Jones Industrial Average futures dropped by 517 points, or 1.1%. S&P 500 futures lost 1.1% and Nasdaq 100 futures shed 1.2%.
— CNBC’s Sarah Min and Spencer Kimball contributed to this report.
