Asian markets today: South Korea’s Kospi, Japan's Nikkei 225 fall up to 3% amid fresh concerns around US-Iran war

Asian markets declined sharply on September 2 with South Korea's Kospi falling 2.87 percent and Japan's Nikkei 225 down 1.60 percent as surging oil prices and rising global bond yields fueled inflation and rate hike concerns. Brent crude approached 95 dollars per barrel amid escalating US-Iran tensions and fears of disruptions through the Strait of Hormuz, while the US 10-year Treasury yield hit its highest level since early 2025. GIFT Nifty traded in negative territory, signaling a weak opening for Indian markets, with analysts citing Middle East conflict, crude prices and global bond yields as near-term headwinds despite resilient domestic growth.