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War with Iran delivers another shock to the global economy

WASHINGTON, March 10, 2026 (AP) — The war with Iran is doing collateral damage to the world economy. The conflict is driving up energy and fertilizer prices; threatening food shortages in poor countries; destabilizing fragile states such as Pakistan; and complicating options for the inflation fighters at central banks like the Federal Reserve. Causing much of the pain: Iran shut down the Strait of Hormuz — through which a fifth of world’s oil passes — after the U.S. and Israel launched missile strikes Feb. 28 that killed Iranian leader Ayatollah Ali Khamenei. “For a long time, the nightmare scenario that

US allies and rivals in Asia gauge fallout from war in the Middle East

SEOUL, South Korea, March 10, 2026 (AP) — As war spreads across the Middle East, U.S. rivals and allies in Asia are preparing for the consequences, which include possible economic shock and long-term security threats. Here’s a look at how the fighting in the Middle East is impacting the Koreas, Japan and China. North Korea At a major political conference last month, North Korean leader Kim Jong Un insisted the country’s decades-long pursuit of nuclear weapons was the “correct” choice, despite crippling isolation and scarce resources. The U.S.-Israeli attacks on Iran will only reinforce that belief. North Korea’s leadership likely

Rupee rebounds from all-time low, up 7 paise to 92.14 against US dollar in early trade

Mumbai, Mar 10 (PTI) The rupee rebounded from its all-time low in early trade on Tuesday, rising 7 paise to 92.14 as global oil prices fell after US President Donald Trump said the war with Iran may end soon. A weaker greenback and a strong opening at the domestic equity markets further supported the local unit while heavy FII outflows capped sharp gains, forex traders said. At the interbank foreign exchange, the rupee opened at 91.92 but fell to 92.14, up 7 paise from its previous close. The rupee crashed to its all-time closing low of 92.21 against the US

Stock markets rebound in early trade after two days of sharp fall

Indian stocks trader watch share prices on his screen during intra-day trade in Mumbai.

Mumbai, Mar 10 (PTI) Equity benchmark indices Sensex and Nifty bounced back sharply on Tuesday early trade after two days of massive decline, following a drop in crude oil prices and recovery in global markets amid hopes that the conflict in West Asia could conclude soon. The 30-share BSE Sensex rebounded 809.57 points to 78,375.73 in opening trade. The 50-share NSE Nifty climbed 252.75 points to 24,280.80. Brent crude, the global oil benchmark, tumbled 5.18 per cent to USD 93.83 per barrel. “Comments from Donald Trump suggesting that the US–Israel conflict with Iran could conclude soon have triggered a decline

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