Stock market today: Asian stocks track Wall Street's decline as Middle East tensions escalate
Time:2024-05-21 19:30:41 Source:travelViews(143)
HONG KONG (AP) — Asia stocks pulled back on Monday as worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money.
U.S. futures rose and oil prices fell despite tensions roiling the Middle East where an attack late Saturday marked the first time Iran had ever launched a military assault on Israel, despite decades of enmity dating back to the country’s 1979 Islamic Revolution.
A barrel of benchmark U.S. oil declined 41 cents to $85.25 a barrel. Brent crude, the international standard, lost 24 cents to $90.21. Slower demand from China, combined with forecasts that growth in supply is outpacing demand, has kept prices in check.
“While the drone attack has grabbed headlines, its immediate impact on global markets, particularly oil prices and inflation concerns, may be subdued,” Stephen Innes, managing partner at SPI Asset Management, said in a commentary. “The precision and limited lethal impact of Iran’s response suggest a strategic approach aimed at minimizing damage rather than escalating tensions.”
Previous:Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
Next:Ricky Stenhouse punching Kyle Busch could lead to suspension
You may also like
- Biden says Brown v. Board of Education ruling was about more than education
- SWAT team pulls suspect out of car after standoff in grocery store parking lot
- VOX POPULI: China remains same heartless nation as seen in grim 1984 film
- Politics updates: Follow updates for the latest on government targets
- Children are evacuated from school 'during an exam' after threat made via email
- Iceland violent volcanic flare
- VOX POPULI: Young texters have rendered punctuation marks obsolete
- Hong Kong lawmaker's petition opposing Gay Games is prejudiced, activist says
- Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry