Svmuu According to reports, as Trump's ultimatum to Iran increases the risk of further disruptions to energy supplies in the Middle East, emerging market asset prices have subsequently fallen. In early trading on Monday, the MSCI Emerging Markets Index dropped by 2.5%, primarily driven by declines in the stock prices of South Korean chip manufacturers. With the Iran war now in its fourth week and no signs of easing, risk assets remain under pressure. "Our view is that caution is needed now, not panic," said Martin Schultz, Head of International Equity Investments at Federated Hermes. "The (conflict) duration is the main issue. The longer this situation persists, the worse it will get." (Jin10)