Gulf conflict rattles Asian markets: Tech stocks slide, bond yields spike

Singapore — A fresh escalation in the Gulf conflict sent shockwaves through global markets on Monday, with technology stocks tumbling and government bond yields rising as investors recalibrated risk. The Strait of Hormuz closure by Tehran, combined with renewed U.S.-Iranian missile and drone exchanges, pushed Brent crude up 3.0% to $78.22 a barrel, while U.S. crude added 2.4% to $73.75.

The MSCI world index fell 0.31%, Europe's STOXX 600 slipped 0.10%, and Nasdaq futures dropped 0.90%. Japan's Nikkei sank 1.9%, while South Korea's KOSPI plunged 7.6% — its steepest decline in months — as leveraged bets on semiconductor shares collapsed. SK Hynix shares fell 9.3% in U.S. pre-market trading after a 14%<