Global Market Update | Hong Kong stocks sink more than 3% on Mideast crisis

Hong Kong stocks tumbled more than three percent Monday as markets across Asia were hit be fears over the economic impact of the Middle East war that has sent oil prices soaring past $110 a barrel. The Hang Seng Index shed 3.3 percent to 24,435.74 in morning trade, while Shanghai stocks dived 2.2 percent to 3,871.75.