Interception attempts are made by Israel as missiles are launched from Iran, following Israeli and U.S. strikes on Iran, in Jerusalem March 1, 2026.
Ammar Awad | Reuters
Asia-Pacific markets were set to fall Monday after U.S. and Israeli strikes on Iran, which killed Iranian supreme leader Ayatollah Ali Khamenei, marked a sharp escalation of tensions in the Middle East.
U.S. President Donald Trump said Sunday that combat operations in Iran will continue after three U.S. servicepersons were killed.
Oil futures on Monday jumped by over 8%, with West Texas Intermediate futures and Brent trading at $72.52 and $79.04 per barrel, respectively.
Japan’s Nikkei 225 futures pointed to a 1.5% decline. The futures contract in Chicago at 57,835, compared to the index’s previous close of 58,850.27. The Osaka contract was at 57,780.
Australia’s S&P/ASX 200 slipped 0.55% in early trade.
Hong Kong Hang Seng index futures were at 26,465, below the previous close of 26,630.54.
South Korea’s markets are closed for a public holiday.
Stock futures tumbled in overnight trading after the weekend strikes in Iran. Futures on the Dow Jones Industrial Average dropped 517 points, or 1%. S&P 500 futures lost 1% and Nasdaq 100 futures declined a little more than 1%. Gold futures jumped 2% as investors piled into the global safe haven.
Read More: Asia-Pacific markets set to plunge after Iran strikes, oil prices jump by over