Asian stocks today: Markets trail as Middle East conflict deepens; Nikkei drops 0.9%, MSCI Asia Pacific slips 0.5%

Asian markets witnessed their sharpest decline since 2022 as the Middle East conflict enters its second month, sparking fears of escalating inflation and economic slowdown. Investors are increasingly risk-averse, with oil prices soaring and bond markets facing pressure from expectations of sustained high interest rates. The US dollar and gold are seeing gains as safe-haven assets amid global uncertainty.