Asian Markets Slide on Rising Oil Prices and Middle East Tensions

Asian markets experienced a decline on Monday, reversing early-session gains from Wall Street as geopolitical tensions and rising oil prices took their toll. The U.S. equity futures came under pressure following President Donald Trump's rejection of an Iranian peace agreement.

The iShares China Large-Cap ETF (FXI) was among the affected assets, along with other Asian equity markets such as EWJ, EWY, DXJ, FXY, and USD.

The market reaction was largely driven by concerns over rising oil prices, which added to the already heightened sense of risk. The Middle East tensions also played a significant role in shaping investor sentiment.