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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Asian Markets Drop as Ukraine Fears Return, Oil Extends Losses

Ukraine Asia Russia United States US Federal Reserve Eastern Europe Europe Iran
A pedestrian walks past a stock indicator displaying the Nikkei 225 of the Tokyo Stock Exchange (C, top) and other world stock markets in Tokyo on 16 August 2021. AFP

Asian markets fell Friday following a steep drop on Wall Street fueled by renewed fears that Russia will soon invade Ukraine, adding to long-running angst about the Federal Reserve's plans to hike interest rates.

While tensions in Eastern Europe continue to absorb most of the attention, oil extended losses as traders grow increasingly optimistic of a deal on Iran's nuclear program that could see it restart crude exports, AFP reported.

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