Wall Street indexes shed more than 1% on Friday as oil prices surged 7% after Israel and Iran traded air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East.

Global stocks slid and oil prices rose on Tuesday as fighting between Israel and Iran entered its fifth day, sowing fears of a broader regional conflict, while investors took in stride the Bank of Japan's decision to slow the pace of its bond tapering.

Asia stock markets were little changed on Monday, following Friday’s sharp sell-off on Wall Street amid escalating Middle East tensions and global economic concerns. Investors digested a batch of mixed Chinese economic data.