BlockBeats News, March 23rd. Due to the escalating Middle East conflict, the global financial market experienced severe volatility on Monday. Asian stock markets collectively plummeted, with the Nikkei 225 falling by 5%, the South Korean KOSPI plunging by 6%, the Taiwan Weighted Index dropping by over 3% at the opening, and FTSE China A50 futures weakening simultaneously.
Risk-off assets showed divergent performance, with spot gold briefly falling below $4370 per ounce, marking a new low since early January, and spot silver plunging by over 4%. Meanwhile, energy prices strengthened, with oil prices continuing to rise. In terms of exchange rates, the South Korean Won fell to a new low not seen since 2009 against the US Dollar, indicating accelerated capital inflows into safe-haven assets.
Market analysis believes that the spillover of geopolitical risks is triggering a global sell-off of risk assets and liquidity tightening, and short-term volatility may further intensify.
