Middle East situation escalates, stock markets plunge and safe-haven assets soar
2024-04-19 02:24:57
On April 19, reports of a new conflict in the Middle East shook global markets, sending stocks lower while oil and safe-haven assets, including U.S. Treasuries and the U.S. dollar, rallied. The yield on 10-year Treasury bonds fell by about 10 basis points, offsetting recent selling pressure. The dollar index rose while other safe-haven currencies, including the Swiss franc, yen and gold, also strengthened. Oil prices rose more than 3 percent, Brent crude briefly topped $90 a barrel and WTI crude surged to nearly $86 a barrel. U.S. stock index futures fell more than 1 percent, while Asian stocks also fell. Japanese and South Korean stocks fell more than 2 percent and Australian stocks fell more than 1 percent.
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