Asia stocks slide, oil extends gains on Middle East risks

TOKYO - Asia stocks sank on Wednesday, catching up with the sell-off on Wall Street after Iran's ballistic missile strike on Israel provoked fears of a wider regional conflict, whileInvestors flocked to safer assets, pushing U.S. Treasury bond yields down in Asian time, while gold hovered near an all-time high.

Iran said early on Wednesday that its missile attack on Israel was finished barring further provocation, although Israel and the U.S. promised retaliation.futures gained more than 1% to $74.33 per barrel, extending the 2.5% advance from Tuesday. U.S. WTI futures gained 1.3% to $70.73 per barrel, after Tuesday's 2.4% rally.

Euro area data on Tuesday showed inflation fell below the ECB's 2% target last month, bolstering bets for a quarter-point rate cut on Oct. 17.

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Stock Futures Slip as Middle East Tensions Rise and Nike Shares React to Mixed EarningsU.S. stock futures dipped overnight as investors grappled with escalating tensions in the Middle East and Nike's mixed first-quarter earnings report. Tech stocks led the declines, while concerns about a potential wider conflict in the region overshadowed hopes for an economic rebound.
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