Asian shares are mixed, with Tokyo's benchmark falling while Hong Kong's advanced despite the sharp escalation of tensions in the Middle East. Oil prices extended gains after Iran fired dozens of missiles into Israel, potentially raising the risk of disruptions to supplies. Mainland Chinese markets were closed for a weeklong national holiday. On Tuesday, the S&P 500 fell 0.9% and the Dow Jones Industrial Average lost 0.4%. Both had set all-time highs the day before. The Nasdaq composite sank 1.5%. A discouraging report showed U.S. manufacturing weakened by more in September than economists expected. Another threat is a strike by dockworkers at 36 ports across the eastern United States that could snarl supply chains and push prices higher.
