# equity markets

Asia Markets Plunge as US–Iran Clash Deepens; Oil, Insurance Become the New Market Fault Lines

A sharp Asia-Pacific equity sell-off accompanied by surging oil prices and retreating war-risk insurance has followed a fresh round of US–Iran military exchanges. Markets are showing extreme sectoral splits — defensive and resource names outperform travel and cyclical stocks — while the return of insurers to cover tanker risks has become a crucial near-term variable.