Global Shares Decline Monday           03/23 04:48

   Global shares dipped Monday across the board, as oil prices continued to 
climb after U.S. President Donald Trump's latest comments dashed hopes for an 
early end to the war in Iran.

   TOKYO (AP) -- Global shares dipped Monday across the board, as oil prices 
continued to climb after U.S. President Donald Trump's latest comments dashed 
hopes for an early end to the war in Iran.

   France's CAC 40 lost 1.5% in early trading to 7,548.83, while Germany's DAX 
dove 2.0% to 21,944.26. Britain's FTSE 100 fell 1.7% to 9,754.80. U.S. shares 
were set to drift lower with Dow futures down 0.5% at 45,659.00. S&P 500 
futures fell 0.7% to 6,515.25.

   In Asia, Japan's benchmark Nikkei 225 dropped 3.5% to finish at 51,515.49. 
In Taiwan, the Taiex shed 2.5% to 32,722.50. Australia's S&P/ASX 200 fell 0.7% 
to 8,365.90. South Korea's Kospi dove 6.5% to 5,405.75. Hong Kong's Hang Seng 
slipped 3.5% to 24,382.47, while the Shanghai Composite declined 3.6% to 
3,813.28.

   Trump over the weekend warned the U.S. will "obliterate" Iran's power plants 
if it doesn't fully open the Strait of Hormuz within 48 hours, prompting Tehran 
to say it would respond to any such strike with attacks on U.S. and Israeli 
energy and infrastructure assets in the region.

   "Trump's ultimatum and Iran's retaliatory warnings point to a widening 
conflict that keeps energy disruption and market volatility elevated with no 
clear off-ramp in sight," said Ng Jing Wen, analyst at Mizuho Bank in Singapore.

   Higher oil prices, which also shook stock markets on Friday, dashed hopes 
for a possible upcoming cut to interest rates by the Federal Reserve, analysts 
said. Before the war, traders were betting that the Fed would cut rates at 
least twice this year. Central banks in Europe, Japan and the United Kingdom 
also recently held their interest rates steady.

   But analysts observed that the markets were starting to react less to each 
of Trump's remarks, perhaps deciding the narrative for markets was being set 
elsewhere, not Washington, such as what Iran might do but how global economic 
growth could be affected by soaring energy prices. Some Asian nations, like 
Japan, are vulnerable to higher energy prices.

   In energy trading, benchmark U.S. crude added $1.62 to $99.85 a barrel. 
Brent crude, the international standard, gained $1.42 to $113.61 a barrel. The 
price of Brent crude has zigzagged lately from about $70 per barrel before the 
war began to as high as $119.50.

   In currency trading, the U.S. dollar rose to 159.53 Japanese yen from 159.22 
yen. The euro cost $1.1526, down from $1.1571.