Archive · 3 Aug 2026
Asian Markets Slide as Oil Falls After Trump Halts Iran Strike
On August 3, stocks in South Korea and Japan fell a lot.
Oil prices also went down because President Trump said the U.S. would stop a big attack on Iran.
A group of oil producers called OPEC+ decided to make a little less oil, which also made prices drop.
The Japanese money, called the yen, got a bit weaker against the U.S. dollar.
Trump said the U.S. action was a "signal of friendship" and the Treasury Secretary said the U.S. would help keep the yen from moving too much.
Asian stocks fell on Aug 3, with South Korea's Kospi dropping 4.65%, Japan's Topix 2.71%, and Nikkei 1.96%.
Oil prices plunged after President Trump announced a halt to a large‑scale strike on Iran, with Brent falling 7.3% to $81.55.
OPEC+ agreed a modest output increase, adding pressure on crude prices.
The Japanese yen weakened 0.2% to 157.70 per dollar amid concerns of coordinated intervention by Japan and the U.S.
Trump described the U.S. action as a "signal of friendship" and Treasury Secretary Bessent said Washington was ready to counter "disorderly" swings in the yen.
- Who
- U.S. President Donald Trump, Treasury Secretary Scott Bessent, Asian market participants
- What
- Asian equities fell, oil prices dropped, and the yen weakened after Trump halted a planned strike on Iran
- When
- Monday, August 3, 2024
- Where
- Asian stock exchanges, global oil markets, and the Japanese yen market
- Why
- Tensions over Iran prompted a U.S. diplomatic move, OPEC+ output cuts, and concerns of coordinated currency intervention
- Date
- August 3, 2024
- Kospi drop
- 4.65%
- Nikkei drop
- 1.96%
- Brent price
- $81.55
- Yen rate
- 157.70 per dollar