Israel attacks Iran: Gold & Oil prices fire up, Global markets fall
Upstox
1 min read • Updated: April 19, 2024, 8:37 AM
Summary
Indian investors brace for deep cuts in equity markets as Middle East tensions escalate with Israel’s strike on Iran. Asian markets fell nearly 3%, and commodities are trading higher.
Global markets are reacting sharply to escalating tensions between Israel and Iran. The Asian markets are showing deep cuts across the board on Friday morning. The US futures, too, show a 1.5% cut on Dow Jones and Nasdaq futures. Similarly, commodities are firing up again.
After Iran attacked Israel last week, both nations showed some restraint, giving some relief to investors globally. However, a surprise attack by Israel on Iran’s key nuclear facilities has sparked fresh fear amongst global investors.
Key Asian indices like Japan, Korea, and Hong Kong show a nearly 3% fall on Friday mornings. The Japanese Nikkei is trading 1300 points down, while Korean Kospi is trading 75 points down.
On the commodities front, Brent crude oil prices sharply rose 3.4% on Friday morning to trade above $90/barrel. The Gold prices, too, have posted a sharp rally to trade back above $2400 per ounce.
The US futures are showing further pain as Dow Jones futures are trading 450 points down, while Nasdaq futures are trading 280 points lower.