Rocket trails are seen in the sky amid a fresh barrage of Iranian missile attacks above the Israeli coastal city of Tel Aviv on March 3, 2026.<\/p>\n
Jack Guez | AFP | Getty Images<\/p>\n
South Korea’s Kospi<\/a> saw its worst day in 19 months, weighed down by heavyweights Samsung Electronics and SK Hynix that fell almost 10% and 12%, respectively, on Tuesday as trading resumed after a public holiday.<\/p>\n The index tumbled 7.24% to 5,791.91. Samsung shares plunged after a report <\/a>revealed that mass production at the company’s U.S. plant in Taylor, Texas had been pushed back to 2027 from this year. <\/p>\n The country’s defense stocks, however, surged<\/a>, with some names rising over 20%. <\/p>\n Other Asia-Pacific markets tumbled as the conflict in Iran continues to rage on for a fourth day, denting risk sentiment. <\/p>\n Oil prices extended gains<\/a> after Iran reportedly said it had closed the Strait of Hormuz, with U.S. crude futures up 2.16% to $72.78 per barrel, while Brent was up 2.78% to trade at $79.91 per barrel as of 2.38 a.m. ET.<\/p>\n More than 14 million barrels per day transited via the Strait on average last year, accounting for nearly a third of the world’s overall seaborne crude exports, according to Kpler data.<\/p>\n Japan’s Nikkei 225<\/a> dropped 3.06%, weighed down by consumer cyclicals, to 56,279.1 while the Topix dipped 3.24% to 3,772.17.<\/p>\n Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0was down 1.25% in its final hour of trading, while mainland China’s CSI 300 fell 1.54% to close at 4,655.9.<\/p>\n Australia’s\u00a0S&P\/ASX 200<\/a> dropped 1.34% to finish at 9,077.3, after being one of the few markets on Monday to record a marginal gain.<\/p>\n Overnight in the U.S., the S&P 500 inched up 0.04% after rebounding late in the session. The\u00a0Nasdaq Composite<\/a>\u00a0was higher by 0.36%, coming back from a 1.6% loss.<\/p>\n