Smoke rises from an Israeli strike targeting the southern suburbs on March 5, 2026 in Beirut, Lebanon. <\/p>\n
Daniel Carde | Getty Images<\/p>\n
Asia-Pacific markets were lower Friday, tracking Wall Street losses overnight, as the Iran conflict sends energy prices higher. <\/p>\n
Overnight, oil prices broke through the $80 per barrel mark, with Brent futures up 3.54% and last trading at $84.31. U.S.\u00a0West Texas Intermediate<\/a>, which saw its biggest single day gain since May 2020, was last down 2% at $79.38. <\/p>\n More uncertainty was also seen on the global trade front after New York Attorney General\u00a0Letitia James<\/a>\u00a0and the top prosecutors of 23 other states\u00a0once again sued to block President\u00a0Donald Trump<\/a>‘s global tariff regime.<\/p>\n This comes after the U.S. Court of International Trade had ruled Thursday that companies were entitled to tariff refunds from Trump’s duties that were struck down by the Supreme Court.<\/p>\n South Korea’s Kospi<\/a> tumbled once again, falling 0.87%, after marking its best day since 2008 in the prior session. The small-cap Kosdaq, however, extended gains to rise 2.45%. <\/p>\n Defense heavyweight LIG Nex1 was up almost 10%, and was one of the top Kospi gainers, after South Korean media reported its air defense systems<\/a> were used to successfully intercept Iranian missiles launched at the United Arab Emirates. <\/p>\n Japan’s Nikkei 225<\/a> was 0.24% down, while the Topix saw a larger loss of 0.42%.<\/p>\n Australia’s\u00a0S&P\/ASX 200<\/a> was down 1.09% in early trade, dragged by basic materials stocks. <\/p>\n Hong Kong’s Hang Seng index<\/a> futures were at 25,037, lower than the HSI’s last close of 25,321.34.<\/p>\n Overnight in the U.S., all three major indexes fell, with the stock sell-off led by\u00a0Boeing<\/a>,\u00a0Caterpillar<\/a>\u00a0and other names that stand to lose the most if the global economy slows.<\/p>\n The\u00a0Dow Jones Industrial Average<\/a>\u00a0declined 1.61%, while the\u00a0S&P 500<\/a>\u00a0fell 0.56%. The tech heavy\u00a0Nasdaq Composite<\/a>\u00a0dipped 0.26%. <\/p>\n \u2014CNBC’s Sean Conlon and Pia Singh contributed to this report. <\/p>\n