Stock markets plunge across Asia, with the Nikkei sinking 13%

Stock markets across Asia saw a significant decline, with Japan's Nikkei dropping 12% and shares in Taiwan and Korea falling over 8%.

Fears of a possible recession in the U.S., delays in interest rate cuts, and concerns about a wider conflict in the Middle East contributed to the sell-off.

The Nikkei faced its steepest losses since the 2011 financial crisis, hitting seven-month lows.

Investors sought safe havens like the yen and Swiss franc amid rising volatility.

Futures for Nasdaq and S&P 500 also fell sharply.