Trump's Economic Warfare Hits Oil Prices and Markets

Oil prices dropped on Monday due to concerns over a potential economic war between the US and Iran. President Donald Trump has launched a campaign to squeeze Iran's economy, calling it the 'most crushing' financial campaign ever mounted against Tehran.

The move sent ripples through Asian markets, with most stocks falling in early trading as investors weighed the potential global impact of renewed economic warfare in the Middle East.

Samsung Electronics revealed that it had spent $80-billion buying back its own shares following weeks of volatile trading. The company's stock price, along with rival SK hynix, hit a peak in June on the back of excitement around artificial intelligence but has since tumbled as investor confidence wavered and the broader technology sector took a beating.