BlockBeats news, on March 23, due to the ongoing escalation of the Middle East conflict, the global financial markets experienced severe fluctuations on Monday. Asian stock markets collectively plummeted, with the Nikkei 225's decline expanding to 5%, the KOSPI of South Korea plunging by 6%, and the Taiwan Weighted Index opening down over 3%. FTSE China A50 futures also weakened.
Safe-haven assets showed mixed performance, with spot gold briefly falling below $4370 per ounce, marking a new low since early January, and spot silver dropping over 4%; meanwhile, energy prices strengthened, with oil prices continuing to rise. In terms of exchange rates, the Korean won fell to a new low against the US dollar since 2009, indicating a rapid flow of funds into safe-haven assets.
Market analysis suggests that the spillover of geopolitical risks is triggering a global sell-off of risk assets and tightening liquidity, with short-term volatility likely to further intensify.