Asian markets slide on oil surge, Wall Street selloff

September 10, 2026 (MLN): The Asian markets traded lower on Thursday, extending Wall Street’s losses as a sharp rise in crude oil prices heightened concerns over inflation and economic pressure amid prolonged tensions in the Middle East.

Australia’s benchmark S&P/ASX 200 led regional declines, falling 1.36%, with mining heavyweights Rio Tinto and BHP Group down 2.93% and 2.52%, respectively.

Japan’s Nikkei 225 declined 0.62%, while the broader Topix slipped 0.56%. South Korea’s Kospi fell 0.24% and the Kosdaq dropped 0.83%, according to CNBC.

Hong Kong’s Hang Seng Index was down 1.47%, while mainland China’s CSI 300 declined 0.74%.

Earlier, futures had pointed to weaker regional trading. Nikkei 225 futures in Chicago and Osaka were at 64,350 and 64,360, respectively, below the index’s previous close of 65,142.78.

Hang Seng futures stood at 24,982 against the previous close of 25,274.96, while S&P/ASX 200 futures traded at 8,816 compared with the prior close of 8,911.4.

The regional sell-off followed a third consecutive decline on Wall Street. The Dow Jones Industrial Average dropped more than 400 points, or 0.8%, while the S&P 500 declined 0.5% and the Nasdaq Composite fell 0.6%.

Rising crude prices added to pressure on equities, with Brent futures climbing 3.4% to $101.21 per barrel on Wednesday, marking their highest close since May 22. U.S. West Texas Intermediate crude gained 3.3% to settle at $96.05 per barrel.

Oil prices have surged amid escalating tensions between the United States and Iran, raising concerns over potential disruptions to global energy supplies and adding to inflationary pressures.

Higher U.S. Treasury yields also weighed on investor sentiment. The yield on the 10-year Treasury note reached 4.857%, its highest level since November 2023, after the U.S. Treasury announced plans to buy back up to $6 billion in longer-term debt.

Markets are also awaiting key U.S. inflation data this week. The producer price index for August is due Thursday, with economists expecting a 0.3% monthly increase and a 5.3% year-on-year rise.

The consumer price index is scheduled for release Friday, with the Dow Jones consensus projecting a 0.4% monthly increase and a 3.4% annual gain.

Investors will also monitor weekly initial jobless claims and August existing home sales, both due later Thursday.

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