Asian Stocks Plunge as Oil Prices Remain Above $100 Per Barrel

Asian stock markets experienced a decline on Thursday following a downturn in Wall Street as the price of crude oil traded above $100 per barrel for the second time this week.

The retreat in Asian shares was led by Japan, where the Nikkei index fell 2.3% to 28,444.81 points.

South Korea's Kospi also dropped 1.4%, while Hong Kong's Hang Seng declined 0.9%.

U.S. futures were modestly higher, however, suggesting that the decline in Asian markets may be a temporary correction rather than a broader trend.