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Economic Times
a day ago
- Business
- Economic Times
Asian stocks slide, oil and gold jump after Israel strikes Iran
Stocks dived in early Asian trade on Friday, led by a selloff in U.S. futures, while oil prices jumped after Israel conducted a military strike on Iran, sending investors scurrying to safe havens such as gold and the Swiss franc. ADVERTISEMENT The Israeli attack raises the risk of a fresh escalation in tensions in the Middle East, a major oil producing region, and comes at a time of heightened pressure on the global economy and financial markets from U.S. President Donald Trump's shakeup of trade policies. Market reaction was swift, with U.S. S&P E-mini futures slumping 1.5% as of 0055 GMT and Nasdaq futures skidding 1.7%. Japan's Nikkei lost 1.4% and South Korea's KOSPI slipped 1.2%.Brent crude jumped more than 6% to $73.56 per barrel. Gold climbed 1% to about $3,419 per said it was declaring a state of emergency in anticipation of a missile and drone strike by Tehran, after what it called a "preemptive strike" over Iran's nuclear programme. ADVERTISEMENT Explosions were heard northeast of Iran's capital Tehran early on Friday, the state-run Nour News U.S. officials who spoke on condition of anonymity said Israel had begun carrying out strikes on Iran and there was no U.S. assistance or involvement in the operation. CNN reported that Trump was convening a cabinet meeting. ADVERTISEMENT "Traders are scurrying for safety as reports of a strike on Iran cross the wires," said Karl Schamotta, chief market strategist at Corpay in Toronto."But details on the scale and magnitude of the attack remain scarce and moves have been relatively limited thus far." ADVERTISEMENT Tensions had been building as Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked. U.S. and Iranian officials were scheduled to hold a sixth round of talks on Tehran's escalating uranium enrichment programme in Oman on Sunday, according to officials from both countries and their Omani Swiss franc gained about 0.4% to 0.8072 per U.S. dollar, and fellow safe haven the yen appreciated 0.3% to 143.06 per dollar. ADVERTISEMENT The euro eased 0.3% to $1.1553, giving back a little of its 0.9% overnight jump. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
a day ago
- Business
- Time of India
Israel strikes Iran: Asian stocks tumble, oil and gold surge; investors rush to safe havens
Asian markets were rattled on Friday after Israel launched a military strike on Iran, triggering a sharp selloff in US futures and global equities, while oil prices soared and investors rushed to safe havens like gold and the Swiss franc. Markets reacted sharply after the strike, with fears of a wider conflict rattling investors. US, S&P E-mini futures fell 1.5% and Nasdaq futures dropped 1.7% by 0055 GMT. In the Asian market, Japan's Nikkei slipped 1.4% and South Korea's KOSPI declined 1.2%. US West Texas Intermediate jumped 10.21% to $74.99 a barrel, while global benchmark Brent rose 10.28% to $76.48. Gold climbed 1% to around $3,419 per ounce as investors turned to safe-haven assets. Israel launched a military strike on Iran late Thursday, with explosions reported across Tehran. The move marks a serious escalation in the long-standing tensions between the two nations, which have clashed for years over Iran's nuclear program. The attack has sparked fears of a wider conflict in the Middle East, a crucial region for global oil supply. This comes at a time when financial markets are already under pressure due to the US President Donald Trump's ongoing trade policy changes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Israel declared a state of emergency, expecting a potential missile or drone response from Iran after what it called a "preemptive strike" targeting Iran's nuclear facilities. The strike comes amid ongoing negotiations between the Trump administration and Iran regarding nuclear limitations. US Secretary of State Marco Rubio confirmed American non-involvement, stating Israel acted independently. "Tonight, Israel took unilateral action against Iran. We are not involved in strikes against Iran and our top priority is protecting American forces in the region," said Rubio. "Traders are scurrying for safety as reports of a strike on Iran cross the wires," Karl Schamotta, chief market strategist at Corpay in Toronto told Reuters. "But details on the scale and magnitude of the attack remain scarce and moves have been relatively limited thus far," Karl added. Tensions had been rising as efforts by Trump to strike a nuclear deal with Iran remained stalled. US and Iranian officials were set to begin a sixth round of talks on Iran's growing uranium enrichment program in Oman on Sunday, according to both sides. The Swiss currency strengthened by 0.4% to 0.8072 against the US dollar, whilst the yen rose 0.3% to 143.06 per dollar. Meanwhile, the euro slipped 0.3% to $1.1553, pulling back slightly after a 0.9% gain on previous day. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Recorder
a day ago
- Business
- Business Recorder
Stocks slide, oil and gold jump after Israel strikes Iran
TOKYO: Stocks dived in early Asian trade on Friday, led by a selloff in U.S. futures, while oil prices jumped after Israel conducted a military strike on Iran, sending investors scurrying to safe havens such as gold and the Swiss franc. The Israeli attack raises the risk of a fresh escalation in tensions in the Middle East, a major oil producing region, and comes at a time of heightened pressure on the global economy and financial markets from U.S. President Donald Trump's shakeup of trade policies. Market reaction was swift, with U.S. S&P E-mini futures slumping 1.5% as of 0055 GMT and Nasdaq futures skidding 1.7%. Japan's Nikkei lost 1.4% and South Korea's KOSPI slipped 1.2%. Brent crude jumped more than 6% to $73.56 per barrel. Gold climbed 1% to about $3,419 per ounce. Israel said it was declaring a state of emergency in anticipation of a missile and drone strike by Tehran, after what it called a 'preemptive strike' over Iran's nuclear programme. Explosions were heard northeast of Iran's capital Tehran early on Friday, the state-run Nour News said. Two U.S. officials who spoke on condition of anonymity said Israel had begun carrying out strikes on Iran and there was no U.S. assistance or involvement in the operation. CNN reported that Trump was convening a cabinet meeting. 'Traders are scurrying for safety as reports of a strike on Iran cross the wires,' said Karl Schamotta, chief market strategist at Corpay in Toronto. 'But details on the scale and magnitude of the attack remain scarce and moves have been relatively limited thus far.' Stocks offer restrained response to US-China trade framework Tensions had been building as Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked. U.S. and Iranian officials were scheduled to hold a sixth round of talks on Tehran's escalating uranium enrichment programme in Oman on Sunday, according to officials from both countries and their Omani mediators. The Swiss franc gained about 0.4% to 0.8072 per U.S. dollar, and fellow safe haven the yen appreciated 0.3% to 143.06 per dollar. The euro eased 0.3% to $1.1553, giving back a little of its 0.9% overnight jump.
Perth Now
a day ago
- Business
- Perth Now
Stocks slide, oil and gold jump after Israel hits Iran
Stocks have dived in early Asian trade, led by a sell-off in US futures, while oil prices jumped after Israel conducted a military strike on Iran, sending investors scurrying to safe havens such as gold and the Swiss franc. The Israeli attack on Friday raises the risk of a fresh escalation in tensions in the Middle East, a major oil producing region, and comes at a time of heightened pressure on the global economy and financial markets from US President Donald Trump's shakeup of trade policies. Market reaction was swift, with US S&P E-mini futures slumping 1.5 per cent and Nasdaq futures skidding 1.7 per cent. Japan's Nikkei lost 1.4 per cent and South Korea's KOSPI slipped 1.2 per cent. Brent crude jumped more than six per cent to $US73.56 a barrel. Gold climbed one per cent to about $US3,419 an ounce. Israel said it was declaring a state of emergency in anticipation of a missile and drone strike by Tehran, after what it called a "pre-emptive strike" over Iran's nuclear program. Explosions were heard northeast of Iran's capital Tehran early on Friday, the state-run Nour News said. Two US officials who spoke on condition of anonymity said Israel had begun carrying out strikes on Iran and there was no US assistance or involvement in the operation. CNN reported that Trump was convening a cabinet meeting. "Traders are scurrying for safety as reports of a strike on Iran cross the wires," said Karl Schamotta, chief market strategist at Corpay in Toronto. "But details on the scale and magnitude of the attack remain scarce and moves have been relatively limited thus far." Tensions had been building as Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked. US and Iranian officials were scheduled to hold a sixth round of talks on Tehran's escalating uranium enrichment programme in Oman on Sunday, according to officials from both countries and their Omani mediators. The Swiss franc gained about 0.4 per cent to 0.8072 per US dollar, and fellow safe haven the yen appreciated 0.3 per cent to 143.06 per dollar. The euro eased 0.3 per cent to $US1.1553, giving back a little of its 0.9 per cent overnight jump.
New Straits Times
a day ago
- Business
- New Straits Times
Stocks slide, oil and gold jump after Israel strikes Iran
TOKYO: Stocks dived in early Asian trade on Friday, led by a selloff in US futures, while oil prices jumped after Israel conducted a military strike on Iran, sending investors scurrying to safe havens such as gold and the Swiss franc. The Israeli attack raises the risk of a fresh escalation in tensions in the Middle East, a major oil producing region, and comes at a time of heightened pressure on the global economy and financial markets from US President Donald Trump's shakeup of trade policies. Market reaction was swift, with US S&P E-mini futures slumping 1.5 per cent as of 0055 GMT and Nasdaq futures skidding 1.7 per cent. Japan's Nikkei lost 1.4 per cent and South Korea's KOSPI slipped 1.2 per cent. Brent crude jumped more than 6 per cent to US$73.56 per barrel. Gold climbed 1 per cent to about US$3,419 per ounce. Israel said it was declaring a state of emergency in anticipation of a missile and drone strike by Tehran, after what it called a "preemptive strike" over Iran's nuclear programme. Explosions were heard northeast of Iran's capital Tehran early on Friday, the state-run Nour News said. Two US officials who spoke on condition of anonymity said Israel had begun carrying out strikes on Iran and there was no US assistance or involvement in the operation. CNN reported that Trump was convening a cabinet meeting. "Traders are scurrying for safety as reports of a strike on Iran cross the wires," said Karl Schamotta, chief market strategist at Corpay in Toronto. "But details on the scale and magnitude of the attack remain scarce and moves have been relatively limited thus far." Tensions had been building as Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked. US and Iranian officials were scheduled to hold a sixth round of talks on Tehran's escalating uranium enrichment programme in Oman on Sunday, according to officials from both countries and their Omani mediators. The Swiss franc gained about 0.4 per cent to 0.8072 per US dollar, and fellow safe haven the yen appreciated 0.3 per cent to 143.06 per dollar. The euro eased 0.3 per cent to US$1.1553, giving back a little of its 0.9 per cent overnight jump.
