Israel hits Iran: Asian stocks tumbling, oil and gold thrust; Investors rush to safe ports – Times of India

Israel hits Iran: Asian stocks tumbling, oil and gold thrust; Investors rush to safe ports – Times of India

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Asian markets were rattled on Friday after Israel had launched a military strike on Iran, which activated a sharp sale in American futures and global shares, while oil prices rose and investors hurried to safe ports such as Gold and the Swiss Franc.Markets responded strongly after the strike, with fear of a broader conflict rattling investors. US, S&P e-mini Futures fell by 1.5% and the Futures of Nasdaq fell by 1.7% by 0055 GMT. On the Asian market, the Japanese Nikkei fell 1.4% and the Kospi in South Korea dropped by 1.2%.US West Texas Intermediate rose by 10.21% to $ 74.99 per barrel, while the global benchmark Brent rose by 10.28% to $ 76.48. Gold climbed by 1% to around $ 3,419 per ounce when investors turned to safe port activa.Israel launched a military attack on Iran at the end of Thursday, reported in Tehran. The relocation marks a serious escalation in the long -term tensions between the two countries, which have been bumping over for years about Iran’s nuclear program.The attack has fueled the fear of a broader conflict in the middle, a crucial region for global oil supply. This is at a time when financial markets are already under pressure because of the continuous trade policy changes by US President Donald Trump.Israel explained a state of emergency and expected a potential rocket or drone response from Iran after what it called a “preventive strike” aimed at Iran’s nuclear facilities. The strike comes in the midst of continuous negotiations between the Trump government and Iran with regard to nuclear limitations.The American State Secretary Marco Rubio confirmed the American non-involvement, stating that Israel acted independently. “Tonight Israel took one -sided action against Iran. We are not involved in strikes against Iran and our top priority is to protect American troops in the region, “said Rubio.“Traders run for safety as reports of a strike on Iran cross the threads,” said Karl Schamotta, main market strategist at Corpay in Toronto.“But details about the scale and size of the attack remain scarce and the movements have been relatively limited so far,” Karl added.Tensions had risen because Trump’s efforts to close a nuclear deal with Iran held up. According to both parties, the American and Iranian officials would start a sixth round of discussions on Sunday about the growing uranium enrichment program of Iranium in Oman in Oman.The Swiss currency was reinforced by 0.4% to 0.8072 compared to the US dollar, while the yen rose by 0.3% to 143.06 per dollar. In the meantime, the euro fell 0.3% to $ 1,1553 and withdrew slightly after a win of 0.9% on the previous day.


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