Global Markets Tremble as Asia-Pacific Stock Exchanges Fall After Global Oil Prices Jump

Asia-Pacific stock markets slipped at the open on Friday, 6 March 2026, with a broad-based correction following declines on the United States exchanges as the war in the Middle East pushed energy prices higher.

Global oil prices breached the US80perbarrellevel, aroundRp1.35millionperbarrel(est.Rp16, 920perUS) by the close of trading on Thursday, 5 March 2026. Brent crude rose 3.54 percent to US$84.31, about Rp 1.42 million per barrel.

West Texas Intermediate (WTI) crude also posted its biggest daily gain since May 2020. However, it pared gains and fell 2 percent to US$79.38, around Rp 1.34 million per barrel.

Greater uncertainty was evident in global trade after New York Attorney General Letitia James and top prosecutors from 23 other states sued to block the United States’ global tariff regime of President Donald Trump. The move followed a ruling by the US Court of International Trade that companies were entitled to tariff refunds from tariffs imposed under Trump that had been struck down by the Supreme Court.

Citing CNBC International, South Korea’s Kospi fell 0.87%. The Kosdaq, comprising small-cap stocks, rose 2.45%.

Japan’s Nikkei 225 slipped 0.24%, while the Topix recorded a larger correction of 0.42%.

Australia’s S&P/ASX 200 slid 1.09% at the open as it was dragged lower by declines in the materials sector. The Hang Seng in Hong Kong dropped to 25,037.

Not far behind, the three main indices on Wall Street also corrected amid selling in Boeing, Caterpillar and other large-cap stocks that were most affected if the global economy slows.

The Dow Jones Industrial Average plunged 1.61%, followed by a 0.56% drop in the S&P 500. The Nasdaq Composite, dominated by technology shares, fell 0.26%.