By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — European shares opened higher on Wednesday after another day of sell-offs in Asia, where South Korea’s benchmark plunged more than 12%.

U.S. futures were 0.3% lower.

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Oil prices climbed more than 3% as the United States and Israel war with Iran entered its fifth day, with Israel targeting the Iranian leadership and security forces and the Islamic Republic hitting back with missile barrages and drone attacks across the region.

Worries over the war, which President Donald Trump has suggested could last a month or longer, have hammered world markets, spooking investors who fear more spikes for oil prices may grind down the global economy and sap corporate profits.

“I think the Iran situation is getting out of hand, and I think that U.S. President Donald Trump miscalculated enormously,” said Francis Lun, CEO of Venturesmart Asia. “The situation is very grim.”

Still, sentiment appeared to steady early Wednesday in Europe, where Germany’s DAX edged 0.2% higher to 23,851.86. In Paris, the CAC 40 was nearly unchanged at 8,105.25. Britain’s FTSE 100 edged 0.1% lower to 10,470.00.

In Asia, South Korea’s Kospi led the regional losses as energy security concerns eclipsed optimism over the boost computer chipmakers like Samsung Electronics and SK Hynix have been getting from expanding use of artificial intelligence.

The Kospi sank 12.1% to 5,093.54. Samsung’s shares dropped 11.7%, while SK Hynix gave back 9.6%.

The Korea Exchange temporarily halted trading for the Kospi index, while a circuit breaker was also triggered on the tech-oriented Kosdaq after it fell by more than 8%. It later dropped nearly 14%.

South Korea’s stock market has been one of the world’s best performers this year, but its economy depends heavily on trade and fuel imports, that are threatened with disruptions to traffic through the Strait of Hormuz, the narrow gateway to the Persian Gulf through which roughly a fifth of globally traded oil passes.

Trump announced Tuesday that he had ordered the U.S. Development Finance Corp. to provide political risk insurance and guarantees for financial security of all maritime trade.

“If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible,” Trump said in a message posted by the White House on X.

Still, the price of U.S. benchmark crude oil climbed more than 3.5%, to $77.18 per barrel. Brent crude, the international standard, gained 3.7% to $84.38 per barrel. Its price has jumped about 15% since the war began.

“Trump’s assurances of the US underwrite shipping insurance against Middle East conflict risks and even U.S. naval escorts only mitigate, but do not eliminate, enduring upside risks to oil prices,” Mizuho Bank said in a commentary.

The increased insurance costs filtering through to shipping would ultimately cost an extra $5 to $15 a barrel, it said, adding that the “‘war premium’ remains firmly intact.”

In Tokyo, the Nikkei 225 shed 3.6% to 54,245.54. Like South Korea and Taiwan, Japan depends heavily on imports of oil and natural gas from the Persian Gulf.

Elsewhere in Asia, the Hang Seng in Hong Kong fell 2% to 25,249.48 and the Shanghai Composite index shed 1% to 4,082.47.

In Australia, the S&P/ASX 200 declined 1.9% to 8,901.20.

Taiwan’s Taiex lost 4.4% and shares in Bangkok sank 6%.

On Tuesday, the S&P 500 finished with a loss of 0.9% after dropping as much as 2.5% on concerns over the war’s damage to the economy. The Dow Jones Industrial Average pared its loss to 0.8% and the Nasdaq composite fell 1%.

Some analysts say stocks could rebound if the war ends soon. If it drags on, higher inflation partly due to rising energy prices could tie the Federal Reserve’s hands and keep it from cutting interest rates.

For now, one of the most evident impacts on the economy has been a surge in gasoline prices.

While drivers in Europe and some Asian cities waited in line to fill their tanks with fuel, as a net oil exporter the U.S. does not face a shortage. But prices are still influenced by global market trends.

In the U.S., a gallon of regular was selling for $3.11 on average, up 11 cents, according to motor club AAA, surprising some drivers at the pump. Gasoline prices were already rising before the U.S. launched strikes on Iran as refiners were switching over to summer blends of fuel.

In other dealings early Wednesday, the dollar fell to 157.46 Japanese yen from 157.74 yen. The euro slipped to $1.1604 from $1.1612.

The price of gold rose 1.2%, while silver gained 2.6%.

Associated Press writer Kim Tong-hyung in Seoul, South Korea, contributed.

By KONSTANTIN TOROPIN and REBECCA BOONE

WASHINGTON (AP) — An operations center targeted by an Iranian drone strike that killed six American soldiers on Sunday was located in the heart of a civilian port in Kuwait, miles away from the main Army base, according to satellite images and a U.S. official.

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The husband of one of the slain soldiers, who was part of a supply and logistics unit based in Iowa, told The Associated Press on Tuesday that the hub was a shipping container-style building and had no defenses.

The development, reported earlier by CNN and CBS News, raises questions about the safety precautions that the U.S. military had in place as it, along with Israel, launched an attack on Iran, which has responded with retaliatory strikes against several countries in the region, including Kuwait. President Donald Trump and top defense leaders say more American casualties are likely.

Defense Secretary Pete Hegseth said Monday that the six soldiers were killed in a “tactical operations center” when a projectile made its way past air defenses. A day later, the Pentagon confirmed it was a drone strike in Port Shuaiba when announcing the names of four of the soldiers who were slain.

A satellite image taken Monday and reviewed by the AP showed the main building in the complex destroyed, with a trail of black smoke rising from it. It is located in the heart of Port Shuaiba, a working seaport and industrial area just south of Kuwait City. The U.S. official, who spoke on condition of anonymity to discuss a matter under active investigation, confirmed the image depicted the location of Sunday’s attack.

This image provided by Planet Labs PBC shows showing a Tactical Operations Center at Port Shuaiba, Kuwait, on Monday, March 2, 2026, where U.S. service members were killed Sunday, March 1, 2026, in an Iranian strike. (Planet Labs PBC via AP)

The Army base, Camp Arifjan, is more than 10 miles to the south. The operations center was just a little over a mile from some of the piers where merchant ships would offload cargo containers and was surrounded by oil storage tanks, refineries and a power plant.

Joey Amor, husband of Sgt. 1st Class Nicole Amor, said his wife was moved off-base to what he described as a shipping container-style building a week before the Iranian strike. The 39-year-old from White Bear Lake, Minnesota, was one of the soldiers killed in the attack.

“They were dispersing because they were in fear that the base they were on was going to get attacked, and they felt it was safer in smaller groups in separated places,” he said.

This undated photo provided by Joey Amor shows Nicole Amor, left, and Joey Amor smiling for a photo. (Joey Amor via AP)

After news reports about the operations center emerged, chief Pentagon spokesman Sean Parnell said on social media that the “secure facility was fortified with 6-foot walls.” He said the military has “the most extensive Air Defense umbrella in the world over the Middle East right now and control of the skies is increasing with every wave of airpower.”

Parnell’s office did not respond to questions about what role the walls would have played in defending against a drone attack or what air defenses were present in range of the command center at the port.

Capt. Tim Hawkins, a spokesman for U.S. Central Command, said “it would be inappropriate to comment given the incident is under investigation.”

Boone reported from Boise, Idaho. Associated Press writer Michael Biesecker contributed to this report.

By JON GAMBRELL, DAVID RISING and SAMY MAGDY

DUBAI, United Arab Emirates (AP) — The United States and Israel hit Iran’s capital and other cities in multiple airstrikes on Wednesday, the fifth day of the war with Iran. Israel targeted the Iranian leadership and security forces as the Islamic Republic responded with missile barrages and drone attacks on Israel and across the region.

Iran’s paramilitary Revolutionary Guard issued its most-intense threat yet as the war escalated, saying it was prepared for the “complete destruction of the region’s military and economic infrastructure.”

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Tehran residents woke to dawn blasts, and Iranian state television showed the ruins of building in the center of the capital. The Shiite seminary city of Qom and multiple other cities were also targeted.

With fighter jets roaring overhead, those still in Tehran looked anxiously to the skies. One man, who ran a clothing shop, said he didn’t know what to do.

“If I leave the city, how am I supposed to earn money and survive?” he said, speaking on condition of anonymity for fear of reprisals.

The Israeli military said one of its F-35 stealth fighter jets shot down a piloted Iranian Air Force YAK-130 fighter over Tehran on Wednesday. It also said Israeli air defenses were activated to intercept Iranian missiles fired at targets around the country, and explosions were heard around Jerusalem.

The tempo of the strikes on Iran was so intense that authorities postponed the mourning ceremony for Iranian Supreme Leader Ayatollah Ali Khamenei, who was killed in the conflict, according to Iranian state television.

Meanwhile, Turkey’s Defense Ministry said NATO defenses intercepted a ballistic missile launched from Iran before it entered Turkey’s airspace. And an Iranian naval frigate sank off the coast of Sri Lanka. Authorities there rescued 32 people, though others died, Sri Lankan officials said.

It was not immediately clear what happened to the ship, which Sri Lankan authorities identified as the IRIS Dena, and is armed with heavy guns, surface-to-air missiles, anti-ship missiles and torpedoes and can carry a helicopter. The U.S. military said earlier it had already destroyed 17 Iranian vessels and that its goal was sinking “the entire navy.”

US Embassies and oil in the crosshairs

With Iran’s stranglehold on tanker movement through the Strait of Hormuz, the narrow mouth of the Persian Gulf through which about a fifth of the world’s oil is shipped, Brent crude prices hit $84 a barrel, up more than 15% since the start of the conflict and at its highest price since July 2024.

Global stock markets have been hammered over worries that the spike in oil prices may grind down the world economy and sap corporate profits.

Iran has also attacked regional infrastructure. Saudi Arabia said Wednesday its Ras Tanura oil refinery, one of the world’s largest, was again targeted after an unsuccessful drone attack on it earlier in the week. The kingdom’s oil ministry said the latest attack did not cause any damage and supplies were not affected.

The American Embassy in Saudi Arabia and the U.S. Consulate in the United Arab Emirates came under drone attacks Tuesday, and the U.S. State Department said Wednesday it had authorized non-emergency government personnel to evacuate the kingdom.

U.S. Navy Adm. Brad Cooper, the head of U.S. Central Command, said Iran has launched more than 500 ballistic missiles and 2,000 drones so far.

“We’ve already struck nearly 2,000 targets, with more than 2,000 munitions. We have severely degraded Iran’s air defenses and destroyed hundreds of Iran’s ballistic missiles, launchers and drones,” Cooper said in a prerecorded message shared online Wednesday.

Five days into a war that U.S. President Donald Trump suggested could last a month or longer, more than 1,000 people have been killed in Iran, including some Trump said he had considered as possible future leaders of the country.

Both sides are unrelenting in attacks

Air sirens sounded in the morning across the island kingdom of Bahrain, home to the U.S. Navy’s 5th Fleet, and Qatar’s Ministry of Defense said Iran launched two ballistic missiles against it. One hit Al-Udeid Qatari Base but didn’t cause casualties.

Lebanon was hit in multiple strikes and Israel said it’s retaliating against Hezbollah militants after the Iran-backed group fired on Israel. More than 50 people have been killed in Lebanon and more than 300 wounded, according to the Health Ministry.

Iranian-linked militant groups in Iraq have also been launching attacks.

Israeli military spokesman Brig. Gen Effie Defrin reported a decline in launches from Iran as the country’s military capabilities are degraded. In airstrikes overnight, the Israeli military said it hit a missile storage and production plant in Isfahan.

The spiraling nature of the war raised questions about when and how it would end. Trump’s administration has offered various objectives, including destroying Iran’s missile capabilities, wiping out its navy, preventing it from obtaining a nuclear weapon and ensuring it cannot continue to support allied armed groups.

Israel presses attacks on Iranian forces and leadership

While the initial U.S.-Israeli strikes killed Khamenei and Trump urged Iranians to overthrow their government, senior administration officials have since said regime change was not the goal.

Trump on Tuesday seemed to downplay the chances of the war ending Iran’s theocratic rule, saying that “someone from within” the Iranian regime might be the best choice to take power once the U.S.-Israel campaign is finished.

Israel’s defense minister, Israel Katz, said Wednesday on X that whoever Iran picks as the country’s next supreme leader, he will be “a target for elimination.”

The Israeli military also said it hit buildings in Tehran associated with the Basij, the all-volunteer force of Iran’s paramilitary Revolutionary Guard that conducted the bloody crackdown on protesters in January that killed thousands and saw tens of thousands detained in the country.

Iran’s judiciary chief, Gholam Hosseini Mohseni Ejehei, threatened Wednesday anyone who supports the U.S.-Israeli campaign, saying on Iranian state television that they are “on the enemy’s side and must be dealt with on revolutionary, Islamic principles and in accordance with the time of war.”

Iran’s leaders are scrambling to replace Khamenei, who ruled the country for 37 years. It’s only the second time since the 1979 Islamic Revolution that a new supreme leader is being chosen. Among those considered as possible candidates is Mojtaba Khamenei, a son of the late ayatollah.

Defrin, the Israeli military spokesman, said the military struck a building in the Iranian city of Qom on Tuesday where clerics were expected to meet to discuss selecting a new supreme leader. He said the army was still assessing whether anyone was hit.

The semiofficial Fars and Tasnim news agencies, both believed to be close to the Guard, said Wednesday there was no meeting there at the time of the attack.

Hundreds have died, including children

The U.S.-Israeli strikes have killed at least 1,045 people, Iran’s Foundation of Martyrs and Veterans Affairs said Wednesday, saying it represented the number of bodies so far identified and prepared for burial.

Eleven people in Israel have been killed since the conflict began.

Kuwait, which had previously reported a single death, said Wednesday that an 11-year-old girl was killed by falling shrapnel as Kuwaiti forces were intercepting “hostile aerial targets.” In addition, three people were killed in the United Arab Emirates and one in Bahrain.

Six U.S. Army Reserve soldiers were killed Sunday in Kuwait.

Rising reported from Bangkok, and Magdy from Cairo. Associated Press writer Elena Becatoros in Athens, Greece; Melanie Lidman in Tel Aviv, Israel; Bassem Mroue in Beirut; Elaine Kurtenbach in Bangkok; Simina Mistreanu in Taipei, Taiwan, and Giovanna Dell’Orto in Miami contributed to this report.

It started to feel like superstar winger Kirill Kaprizov might never score again.

He failed to bury multiple chances on Tuesday night at Grand Casino Arena while the Wild rolled to a 5-1 win over the Tampa Bay Lightning. It was an uncharacteristic performance from the 28-year-old Russian. He hit the post so many times over the course of 60 minutes that he started to wonder to himself, “What’s going on?”

Maybe former Wild winger Marian Gaborik made a deal with the hockey gods before the game with Kaprizov on the precipice of leapfrogging him to become the franchise’s all time leading goal scorer.

Not even divine intervention could stop the most prolific goal scorer to ever wear the Wild sweater from rewriting the record books.

As the slowly game wound to a close with the result well in hand, Kaprizov casually flicked a backhanded shot into an empty net.

It officially marked the 220th goal of his career.

No player has ever had more for the Wild.

“It’s good,” Kaprizov said with a smile after the game. “You always want more.”

As much as he’s tried to downplay the idea of passing Gaborik to become the franchise’s leading goal scorer, Kaprizov understands why the conversation itself has carried so much fan fare.

Not that he’s feeling satisfied. He knows he has to keep putting the puck into the back of the net in order for the Wild to get to where they want to go.

“Now it’s done,” Kaprizov said while shifting back to serious. “Just need to keep going.”

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