[MARKET ANALYSIS] Stocks suffer a blood bath after Iran conflict entered a second week and oil surged by around 30%

APAC Stocks: NegativeAsia-Pac stocks sold off heavily with global markets rattled after the Iran war entered into a second week with no signs of abating and as oil prices surged around 30% on continued disruption, with more producers forced to cut output.ASX 200: -3.5%Slumped at the open with heavy losses across all sectors aside from energy due to the oil price surge.Nikkei 225: -6.5%Suffered intraday losses of more than 4,000 points as manufacturers and exporters suffered from the rising energy costs and shipping disruption.Hang Seng & Shanghai Comp: Hang Seng -2.5% / Shanghai Comp -1.1%Chinese markets conformed to the broad risk-off mood with sources tempering expectations for a breakthrough in the upcoming Trump/Xi summit, but with the downside in the mainland somewhat cushioned after firmer-than-expected Chinese inflation data.US Equity Futures: LowerExtended on their post-NFP declines as the Iran conflict and surge in oil spooked markets.European Equity Futures -3.1%Indicate a much lower cash market open with Euro Stoxx 50 futures down 3.1% after the cash market closed with losses of 1.1% on Friday.