Asia market drops on escalating Middle East tensions, higher oil prices

April 13, 2026 (MLN):  Asia markets fell on Monday as global markets reacted to escalating geopolitical tensions and renewed uncertainty after U.S.–Iran negotiations collapsed over the weekend.

The failed talks in Islamabad and rising concerns over potential U.S. restrictions on Iranian port activity heightened fears of a prolonged conflict in the Middle East. Investors also worried about possible disruptions to global oil supply, which pushed crude prices higher and added to inflationary pressures worldwide.

Brent crude futures went up by $7.07, or 7.43%, to $102.27 per barrel, according to data by Mettis Global.

In Asia, India’s Nifty 50 led regional losses, falling nearly 2%. Japan’s Nikkei 225 dropped 1.09%, while the Topix slipped 0.67%, according to CNBC.

South Korea’s Kospi declined 1.26%, although the small-cap Kosdaq edged up 0.26% in volatile trading. In Australia, the S&P/ASX 200 fell 0.53%.

Mainland China’s CSI 300 slipped 0.12%, while Hong Kong’s Hang Seng Index extended early losses to close down 1.22%.

In U.S. futures trade, the Dow Jones Industrial Average futures fell 517 points (1.1%), while S&P 500 futures and Nasdaq 100 futures both declined about 1.1%–1.2%, reflecting a broader risk-off tone across markets.

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