New Delhi, March 9 -- Asian markets tanked in the opening session on Monday, with Japan's Nikkei and South Korea's KOSPI falling around 7 per cent, after crude oil prices surged sharply amid escalating geopolitical tensions in West Asia.

The sharp fall in regional markets came after crude prices surged more than 25 per cent at the opening, triggering risk-off sentiment across global markets. Crude was trading at USD 115 per barrel at the time of filing this report, raising concerns among investors about inflation and supply disruptions.

Among major Asian indices, Japan's Nikkei 225 index declined by 7 per cent to the 52010 level, reflecting heavy selling pressure in the early session. South Korea's KOSPI index also tanked 7.43 per cent ...