(Bloomberg) — Futures for European and US equity indices took a hit as global markets reacted to new tensions in the Middle East. This led to a drop in stocks while boosting oil prices and safe-haven assets such as Treasuries and the dollar.
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The surge in Treasuries caused the 10-year yield to plummet by up to 14 basis points. The dollar index saw a rise of 0.6%, along with increases in other safe-haven assets like the Swiss franc, yen, and gold.
The situation unfolded as Israel retaliated against Iran shortly after Tehran’s recent missile and drone attacks, as reported by two US officials. This escalation raised concerns about a broader conflict in the region. However, Iran’s efforts to downplay the incident helped ease some of the market’s risk aversion.
Oil prices surged by over 4%, pushing Brent crude above $90 per barrel before retracting slightly. Meanwhile, the Asia ex-Japan credit default swaps index recorded its largest daily gain in more than eight months. Asian stocks also…
2024-04-19 00:57:36
Source from finance.yahoo.com