Key facts
- Asian stocks fell due to renewed US-Iran clashes.
- Oil prices slipped from recent highs after Israel and Lebanon agreed to a ceasefire.
- S&P 500 e-mini futures and Japanese Nikkei 225 slumped.
- The US House of Representatives approved a symbolic resolution to block President Trump from continuing conflict with Iran.
- Bitcoin tumbled to a four-month low amid a stronger US dollar and rising yields.
- Broadcom shares plunged over 13% after missing revenue expectations.
Asian stocks fell on Thursday as renewed fighting between the U.S. and Iran rattled investors, although oil prices slipped from recent highs after Israel and Lebanon agreed to a ceasefire. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.5%, while S&P 500 e-mini futures slipped 0.5%. Korean shares were down as much as 2.6% and Japan's Nikkei 225 slumped 1.9%. Analysts noted a shift to risk-off mode. Wall Street stocks also dropped overnight, with the S&P 500 falling 0.7% and oil prices rising around 2% as talks between Tehran and Washington showed little progress and hostilities erupted anew. Traders looked past better-than-expected U.S. ISM services sector PMI data. Brent crude futures were 1.3% lower at $96.59 a barrel as trading resumed on Thursday after Lebanon and Israel agreed to implement a ceasefire, contingent on a complete cessation of fire from the Iran-aligned Hezbollah militia. The U.S. House of Representatives approved a war powers resolution to block President Donald Trump from continuing the conflict against Iran, though it is largely symbolic. Broadcom shares plunged more than 13% in extended trading after missing revenue expectations. In currency markets, the yen strengthened 0.1% to 159.88 per dollar. Bank of Japan Governor Kazuo Ueda signalled a strong chance of a rate hike this month. The Aussie dollar nudged 0.1% higher after Australia's trade balance swung back into surplus. The U.S. dollar index held steady at 99.44. The yield on the U.S. 10-year Treasury bond was down 1.4 basis points at 4.473%. Gold rose 0.9% to $4,473.61 per ounce. Bitcoin tumbled 4% to a four-month low of $62,321.87, while ether was down 1.9% at $1,744.70, undercut by a stronger U.S. dollar, rising yields, and cautious risk sentiment.