Oil Rally Triggers Asia Market Slump Amid Inflation Fears

Asia’s stock markets tumbled as surging oil prices raise inflation fears and threaten delayed rate cuts. The Kospi in Seoul dropped a record 12% in one day, with Japan’s Nikkei and TOPIX also down around 4%. Brent crude neared $84 and WTI traded above $76 as the Strait of Hormuz disruption tightens energy supply, signaling a potential weeks-long energy shock and higher-for-longer inflation that could slow growth and push policymakers to maintain tighter monetary conditions.