HONG KONG (AP) — World shares mostly retreated and oil prices jumped on Monday after U.S. President Donald Trump warned Tehran that the “clock is ticking” as U.S.-Iran negotiations over a permanent end to the war stall.

U.S. futures fell and markets in Japan and South Korea pulled back from their records. In early European trading, Britain's FTSE 100 edged up 0.1% to 10,205.31. France's CAC 40 lost 0.9% to 7,883.42, and Germany's DAX dropped 0.1% to 23,925.82.

During Asian trading, Tokyo’s Nikkei 225 fell 1% to 60,815.95, a decline led by technology-related stocks. It reached all-time intraday high levels last week above 63,000.

The yield on the 10-year Japanese government bond surged to as high as 2.8%, its highest level since the late 1990s. That's part of a broader shift toward higher yields as the Bank of Japan gradually raises interest rates and higher energy costs raise expectations of rising inflation. The yield was around 2.55% just one week ago.

Seoul’s Kospi climbed 0.3% to 7,516.04 after trading lower earlier in the day. It crossed the 8,000 mark for the first time on Friday, supported by buying of technology shares driven by the boom in artificial intelligence, but later declined partly on profit-taking by investors.

Hong Kong’s Hang Seng lost 1.1% to 25,675.18. The Shanghai Composite index edged 0.1% lower to 4,131.53, after China reported weaker-than-expected economic data for April.

Australia’s S&P/ASX 200 declined 1.5% to 8,505.30.

Taiwan’s Taiex dropped 0.7%, while India’s Sensex fell less than 0.1%.

Oil prices rose after Trump warned Iran in a social media post that “the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them” following a call with Israeli Prime Minister Benjamin Netanyahu.

Trump has set deadlines for Iran and then backed off, so investors have remained cautious about the situation in the Strait of Hormuz and how it is impacting global energy flows, including oil and gas. The strait is still mostly closed, and the U.S. has also imposed its own sea blockade on Iranian ports since last month.

Source: WPLG