Trump has warned Iran to open the Strait of Hormuz immediately, otherwise its energy infrastructure will be destroyed.
South Korea s main index KOSPI fell by 6.5%, while Japan s Nikkei 225 index fell by 3.5%. Hong Kong s Hang Seng index also recorded a decline of more than 4%.
Australia s ASX 200 index closed down 0.75%, while New Zealand s NZX 50 index was down 0.7%.
European markets also fell, with London s FTSE 100 down 1.4 percent in early trade, while Germany s DAX 40 fell nearly 2 percent.
Wall Street also fell before the open in the United States, with futures linked to the S&P 500 trading down about 0.8 percent.
On the other hand, uncertainty remains in oil prices. Brent crude rose 0.6 percent to $112.80 a barrel.
According to experts, if the Strait of Hormuz remains closed, global energy supplies could be severely affected, and oil prices could reach $150 to $200 a barrel.
The US president gave Iran a 48-hour ultimatum on Saturday, saying that if Tehran does not remove the blockage in the Strait of Hormuz, its power plants will be destroyed. The waterway handles about a fifth of the world s oil and gas shipments.
Iran has warned that if it is attacked, it will not only completely close the Strait of Hormuz but also retaliate against energy and water infrastructure in the region.
According to reports, a limited number of Chinese, Indian and Pakistani flagged ships are still passing through the route.
The tensions are rising at a time when the US and Israel have been at war with Iran for almost a month, and there is no sign of it ending. Oil prices have increased by more than 50% since the start of the war.
On Sunday, President Trump spoke by phone with British Prime Minister Keir Starmer, in which both leaders stressed that opening the Strait of Hormuz is essential for the stability of the global energy market.
Meanwhile, the US president has also made conflicting statements regarding the objectives and duration of the war, while Israeli officials say that the war could last at least another three weeks.
