Title : Gold And Oil Prices Soar. Stocks Tumble.
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Gold And Oil Prices Soar. Stocks Tumble.
REUTERS/Li Sanxian
Reuters: Stocks tumble, gold and crude soar after Iran strike on U.S. forces
SHANGHAI (Reuters) - Asian shares and U.S. treasury yields tumbled on Wednesday, while the yen, gold and oil shot higher after Iran fired rockets at Iraqi airbases hosting U.S. military forces, stoking fears of a wider conflict in the Middle East.
Iran’s missile attacks on the Ain Al-Asad air base and another in Erbil, Iraq, early Wednesday came hours after the funeral of an Iranian commander whose killing in a U.S. drone strike has intensified tensions in the region.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 1% lower shortly after China’s share markets began trading, with China’s blue-chip CSI300 index down 0.56%.
Japan’s Nikkei tumbled 2.2% and Australian shares fell more than 1%. U.S. stock futures were also sharply lower, with S&P500 e-minis off nearly 1%.
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Update: Dow futures plunge 400 points after Iran retaliation raises fears of bigger conflict (CNBC)
WNU Editor: It is going to be a crazy day on the markets tomorrow (Wednesday).
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