Following the increase in US airstrikes against Iran, concerns over energy supplies and shipments through the Strait of Hormuz accelerated sell-offs in global markets. The Morgan Stanley Capital International Asia-Pacific index excluding Japan fell 2%, South Korea’s KOSPI index dropped approximately 4%, and the Nikkei 225 declined 2.9%.
Brent crude rose 0.9% to $95.45, trading around its highest levels in the past five weeks. The yield on the US 10-year Treasury note reached a nearly three-year high at 4.8122%. The S&P 500 lost 0.7%, while the Nasdaq Composite fell 1%.
As markets focused on the Fed’s September 15-16 meeting, the probability of a 25-basis-point rate hike was priced at 67%. The dollar index rose to 99.79, while spot gold fell 0.6% to $4 thousand 304.64 per ounce.
Why it matters
The simultaneous movement across different asset classes shows that the tensions have become a global pricing factor not only as a regional security issue but also through energy supplies and monetary policy expectations. The steeper losses in Asian equities indicate that risk aversion has become more pronounced in regional indexes, while the decline in US markets shows that the pressure has spread across a broader range of assets. The concurrent rise in oil prices and long-term bond yields indicates that investors are pricing in both the risk to shipments and the possibility of Fed tightening at the same time. The key open question is whether concerns over the Strait of Hormuz will prove temporary and to what extent this will alter interest-rate expectations ahead of the Fed meeting.
Background
The US is not a new name in the FikirPilot archive: we have published 10 reports mentioning this name in the past 90 days; the latest was dated September 2, 2026.