Asia markets decline sharply as geopolitical tensions escalate.

Asia markets decline sharply as geopolitical tensions escalate. Iran's new Supreme Leader Mojtaba Khamenei vowed to maintain a permanent blockade of the Strait of Hormuz, escalating the U.S.-Iran conflict into its fourteenth day. The announcement triggered significant market volatility across Asian exchanges, with investors fleeing to safety amid supply chain concerns. Oil prices spiked substantially in response to the blockade threat, as the Strait of Hormuz represents a critical chokepoint for global energy supplies. Wall Street's overnight weakness compounded selling pressure in Asia, reflecting broad risk-off sentiment. The geopolitical standoff creates uncertainty for energy markets and global trade, pressuring equity valuations across the region.