Last mentioned: Mar 22, 2026
Four-Month Low
ASX 200 closes at 8,428.40, wiping $250B in value since the start of the conflict.
Weekly Decline Starts
ASX 200 begins its third consecutive week of losses as geopolitical tensions persist.
Energy Peak
Energy stocks hit two-year highs as Iranian infrastructure attacks drive oil prices upward.
Conflict Escalation
U.S.-Israeli conflict with Iran begins, initiating a period of high market volatility.
The Australian benchmark index fell 0.82% to close at 8,428.40, marking its third consecutive weekly decline as the conflict between the U.S., Israel, and Iran enters its eighth week. Heavy selling in the materials and banking sectors outweighed gains in energy, wiping approximately $250 billion in market value since the regional escalation began.
Cryptocurrencies including Bitcoin and Ethereum rallied as Iran's leadership signaled a continued closure of the strategic Hormuz Strait, heightening global energy concerns. While the digital asset market saw a significant price spike, analysts caution that the move does not yet signal a long-term bullish reversal for Bitcoin.
Goldman Sachs has issued a warning regarding the escalating conflict involving Iran, highlighting significant risks to India’s energy supply chains. As a major importer of crude oil, India faces potential price spikes and logistical bottlenecks if the Strait of Hormuz experiences prolonged disruptions.