Asia Shares Fall as Iran Fighting Lifts Oil and Yields
Brent crude topped $90 a barrel as foreign fund outflows and higher bond yields added pressure to Asian equities, analysts said.
- 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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Global Markets End August Cautiously as Oil Rises and Bond Yields Climb
Global stock markets were set to close August on a cautious note Monday as renewed fighting between the United States and Iran pushed oil prices ... The post Global Markets End August Cautiously as Oil Rises and Bond Yields Climb first appeared on [your]NEWS.
European shares fell in early trade today as fresh US-Iranian military strikes pushed up oil prices. Energy shares rose 0.6% The pan-European STOXX 600 index was unchanged at 655 at 10:12 Greek time after a lower start, with markets in London closed for a holiday. Energy shares rose 0.6%, following a more than 2% jump in Brent crude.
Rising US bond yields or oil prices at $90 per barrel- Which is the bigger risk for stock markets?
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.
Associated Press News
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.
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