ASX to tumble as conflict escalates; Oil spike rattles Wall Street

Australian shares are poised to tumble by more than 1 per cent at the open as fears of a widening Middle East war roiled global markets and sent the oil price soaring.

ASX 200 futures were down 124 points or 1.4 per cent to 8910 by the close at Wall Street after earlier tumbling more than 2 per cent. The S&P 500 closed 0.9 per cent lower, after all three US benchmarks recovered from early plunges of at least 2.5 per cent.

Source: https://www.afr.com/markets/equity-markets/asx-to-plunge-dow-sheds-1200-points-in-broad-sell-off-20260304-p5o785