Offshore vessel 'Zakher Duty' at the Port of Fujairah, as the U.S.-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, May 6, 2026.

Amr Alfiky | Reuters

Asia-Pacific markets opened lower Friday, as concerns grew over renewed hostilities between Iran and the U.S. amid a fragile ceasefire.

The U.S. and Iran traded fire in the Strait of Hormuz , with each side claiming the other initiated the attack.

Despite the escalation, President Donald Trump insisted that the ceasefire remains in effect, saying the strikes are "just a love tap" during a call with an ABC News reporter later Thursday.

Trump later claimed in a subsequent Truth Social post that the U.S.…