Cooperation between Egypt and Tanzania    Grassroots politics: A story from Beheira    Eni reaches agreements with Egypt, Naturgy to restart operations at gas plant in Damietta    The end of the beginning    Biden administration    British troops protecting Saudi oil wells    19-year-old Jones sends Liverpool into last 16 with Ajax win    Atletico still not through as Mueller snatches draw for Bayern    Gana Hena play at Al-Ghad Theatre is a must go    A final battle    Euphoric Ahly edge close to treble after win over Ittihad in Egypt Cup semis    Upgrading transport    Italy reports 19,350 new coronavirus cases, 785 deaths: Health ministry    Free Devastation    Don't miss Britt Boutros Ghali's show at Picasso gallery    After 4.2 million COVID-19 cases in November, US pins hope on vaccine    France aiming for broader COVID-19 vaccination campaign in spring: Macron    Egypt's stock market indices close higher, EGX 30 hikes 0.89% on Tuesday    Moderna files for U.S. vaccine authorization, will seek EU nod    Pfizer, BioNTech apply for coronavirus vaccine approval in Europe    Egypt reports 370 new coronavirus cases, 14 deaths on Monday    Egypt to raise local components of locomotive industry to 45% – official    World Bank warns of 'prolonged depression' in Lebanon    Egypt's current account deficit jumps in April-June    Brexit unresolved, as EU, UK say big differences remain    Cairo International Book Fair suspended for five months over coronavirus concerns    US will reduce number of its troop in Iraq, Afghanistan    Asia forms world's biggest trade bloc, a China-backed group excluding U.S    Egypt unveils largest archaeological discovery in 2020 with over 100 intact sarcophagi    Trump says won't blame Egypt for being ‘upset' over GERD dispute with Ethiopia    1st stage of Egypt's parliamentary elections kicks off on Saturday    Global Finance: Egypt's Tarek Amer among the world's top 20 central bank governors    Legend footballer Lionel Messi says he is forced to stay with Barcelona    Egypt, Ethiopia, Sudan to resume Nile dam talks today    Iraqi conglomerate eyes developing land that housed Mubarak-era ruling party HQ    Legend Messi officially wants to leave Barcelona, hands transfer request    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

US stocks slump as Iran's attack on U.S. forces heightens Middle East tensions
Published in Amwal Al Ghad on 08 - 01 - 2020

U.S. stock index futures fell early on Wednesday as investors scurried to safe-haven assets after Iran fired rockets at U.S.-led forces in Iraq in response to the killing of a top Iranian commander, sparking fears of a wider war in the Middle East.
Iran fired more than a dozen ballistic missiles on at least two Iraqi facilities hosting U.S.-led coalition personnel, as the burial of Qassem Soleimani, who was killed in a U.S. drone attack on Friday, was concluding.
The retaliation shook global financial markets, with S&P futures .EScv1 tumbling as much as 1.7% and the benchmark U.S. 10-year Treasury yield falling to a one-month low. Stock markets in Europe were also indicated lower. [MKTS/GLOB]
Oil and gold prices surged by about 5% and 2%, respectively, before receding slightly as Iranian officials said that their country did not want a war and the strikes "concluded" its response to Soleimani's killing.
President Donald Trump said in a tweet an assessment of casualties and damage was under way and that he would make a statement on Wednesday morning. A U.S. official said the United States was not aware of any casualties from the strikes.
Some analysts said the attacks could provide investors an excuse to pull back from equities after improving global sentiment and an imminent U.S.-China trade truce recently propelled the benchmark S&P 500 to record highs.
"We've had three months of asymmetric upward moves in the equity markets," said Christopher Stanton, chief investment officer at San Diego-based Sunrise Capital LLC.
"Things have become increasingly overbought. If you're an investor, don't you want to take it easy here and back off a bit?"
At 2:31 a.m. ET, Dow e-minis 1YMcv1 were down 88 points, or 0.31%. S&P 500 e-minis EScv1 were down 3.5 points, or 0.11% and Nasdaq 100 e-minis NQcv1 were down 21.25 points, or 0.24%.
Investor attention this month will also be on the Federal Reserve's first policy meeting for 2020, where it is widely expected to keep interest rates unchanged after three reductions last year.

Clic here to read the story from its source.