Stock market today: Asian markets sink, with Japans Nikkei down 3.5%, as Mideast tensions flare [Video]

Asian stocks tumbled Friday, with Japan’s Nikkei slumping 3.5% on heavy selling of semiconductor-related shares and other market heavyweights.

Tensions in the Middle East were weighing on sentiment across the region, and U.S. futures were sharply lower.

Oil prices jumped about $3 as the state-run IRNA news agency reported that Iran fired air defense batteries early Friday morning after reports of explosions near the city of Isfahan.

Japan’s benchmark Nikkei 225 plunged 3.51% to 36,742.05.

Semiconductor equipment supplier Lasertec was the largest loser, it lost 9.7% in morning trading. But most other big tech-related shares also dropped. Renesas gave up 7.3%, Tokyo Electron lost 7.8% and Sony Group Corp. declined 3.3%.

Toyota Motor Corp was down 3.7%.

Japan’s headline inflation rate in March slowed to 2.7%, while the core-core index, excluding fresh food and energy costs, moderated to 2.9%, marking the first time since November 2022 that the index fell below 3%.

The yen was slightly firmer against the U.S. dollar, with the latter falling to …