Global Stock Markets Fall After Israel Vows Response to Iran Attack: AFP

Asian and European stock markets fell on Tuesday after Israel’s army chief vowed to respond to Iran’s attack on Israel, which dented investor confidence as hopes for a cut in US interest rates and mixed profits dwindled. .
Sharjah 24 – AFP:

Asian and European stock markets fell on Tuesday after Israel’s army chief vowed to respond to Iran’s attack on Israel, which dented investor confidence as hopes for a cut in US interest rates and mixed profits dwindled. .

Stock prices on the Frankfurt, London and Paris stock exchanges fell by more than 1%, while oil prices also fell despite tightening production in Iran, the main producer of crude oil.

Shares in the Hong Kong and Tokyo stock exchanges lost about 2%, while Shanghai shares fell more than 1%, amid mixed Chinese data.

Wall Street stocks fell on the impact of better-than-expected US retail sales data, which reinforced the view that the world’s largest economy remains in poor health, and undermined hopes for a cut in it the US interest rates this year.

Markets remain fearful that the crisis between Iran and Israel will turn into a wider war in the Middle East.

Analyst Joshua Mahoney at Scope Markets Group explained that the mood is nervous at best at the moment with rising geopolitical tensions in the Middle East, as well as growing fears that the Reserve could The Fed chose to keep interest rates at current levels for a while. .

For his part, Matthew Ryan, head of market strategy at Ebury Financial Services, said that the scale of Israel’s retaliation is the most important thing for the markets to get involved in the conflict, especially the United States, it is likely to see a trip- air to safety in the markets.

This threat to global oil supplies is likely to lead to a sharp rise in oil prices, which could jump to over $100 a barrel, due to investor fears of a wider regional war, according to the same analyst.