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Asia Shares Fall as Iran Fighting Lifts Oil and Yields
Brent crude climbed above $90 as investors priced in higher inflation and rate risks, with foreign funds selling Rs 5,039.80 crore, exchange data showed.
- On Sunday, United States forces struck Iranian rocket launchers on Larak Island in the Strait of Hormuz, marking their first military action in a month. The strike rattled markets across Asia.
- Tehran retaliated by launching attacks on two U.S. air bases in Jordan following the strikes, prompting oil prices to surge about 3% early Monday. The escalation ended a period of relative regional calm.
- Australia's S&P/ASX 200 lost 0.2% to 9,076.80 while Hong Kong's Hang Seng fell 0.4%, with futures for the Dow Jones Industrial Average slipping 0.3%. Regional indices reflected investor anxiety over geopolitical escalation.
- Fed Chairman Kevin Warsh stated on Friday that "short-term interest rates are the predominant tool" for controlling inflation, reinforcing rate-hike expectations. The 10-year Treasury yield climbed to 4.72% from 4.67%.
- Investors await Euro zone inflation data and U.S. payrolls later this week to assess economic momentum, while Chinese factory activity remained in contraction for a second consecutive month in August. Data releases will guide Fed policy decisions.
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As US bond yields rise and oil prices hover around $90 per barrel, analysts debate which factor poses a greater threat to the Indian stock market. Insights reveal that while yields impact sentiment, oil prices have direct consequences, especially if they soar above $100.
·New Delhi, India
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Associated Press News+14 Reposted by 14 other sources
Asian shares, US futures retreat and oil prices surge after US strike on Iranian rocket launchers
Shares are mostly lower in Asia and U.S. futures also have declined on expectations that the U.S. Federal Reserve may raise interest rates soon.
·New York, United States
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Asian shares drop amid geopolitical friction,oil spike,and hawkish Fed
Asian stock markets traded lower on Monday as escalating tensions between the US and Iran sent crude oil prices higher, intensifying concerns over broader inflation. Sentiment was further pressured by Friday's losses on Wall Street following hawkish rema
·Ra'anana, Israel
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Total News Sources77
Leaning Left10Leaning Right13Center13Last UpdatedBias Distribution36% Center, 36% Right
Bias Distribution
- 36% of the sources are Center, 36% of the sources lean Right
36% Right
L 28%
C 36%
R 36%
Factuality
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