Major indexes across South Korea, Japan, and Europe record steep single-day losses following a spike in energy prices and political remarks from Donald Trump.
World equity markets suffered their largest declines in months as Brent crude oil exceeded $85 per barrel. South Korea’s market dropped 8%, Japan fell 6%, and losses spread across Europe, including Germany at 5% and Italy at 4%. The downturn coincided with comments from Donald Trump asserting that the United States could "fight forever," contributing to heightened geopolitical and investor uncertainty during a period of rising energy costs.