Global Market Today: Asian Markets Tumble as US-Iran Fighting Lifts Oil and Bond Yields
Renewed U.S. attacks on Iran sent Brent crude to a five-week high and raised the implied odds of a Fed rate hike to 67%, traders said.
- Asian stocks slumped Wednesday as airstrikes on Iran triggered global market volatility, with Brent crude futures rising 0.7% to $95.34 a barrel after Tuesday's military action pushed oil prices to a five-week high.
- Westpac analysts wrote that "the threat of further disruptions to the Strait of Hormuz has brought about renewed anxiety over inflation, driving a selloff in stocks across most major markets and a rout in global bond markets."
- MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8% in early trading, while South Korea's KOSPI dropped 3% and Japan's Nikkei 225 sank 2.2%, as the Treasury 10-year yield rose to 4.798%.
- Fed funds futures now price a 67% probability of a 25-basis-point rate hike at the September 16 meeting, up from 39.6% last week, as traders remain uncertain whether the Federal Reserve will proceed with the increase.
- Data from the Institute for Supply Management released Tuesday showed manufacturing activity moderated in August amid a slowdown in new orders, though the sector remained in expansionary territory.
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31 Articles
The Asian and Pacific Bags, after six positive sessions, see red and, as already on Wall Street, pay geopolitical instability with the resumption of the clashes between the United States and Iran and the war in Ukraine. (ANSA)
Asian Stocks Fall as US Iran Conflict Pushes Oil Prices Higher
Asian financial markets came under heavy pressure on Wednesday as renewed US airstrikes on Iran intensified fears of further disruption to the global energy supply. Rising oil prices and a sharp increase in US government bond yields revived concerns over inflation and the possibility of higher interest rates, triggering a broad selloff across equities and […] The post Asian Stocks Fall as US Iran Conflict Pushes Oil Prices Higher appeared first …
Investors in Asia act cautiously. Two issues dominate the market: developments in the Iran war and the rise in global investment returns.
Asian markets tumble as US-Iran fighting lifts oil and bond yields - Markets
Stocks slumped in Asian trading on Wednesday as a bond market-induced selloff on global markets spilled over into the region, after renewed attacks by the United States on Iran pushed oil prices higher.
(Seoul = Yonhap News) Reporter Hwang Cheol-hwan = As the armed conflict between the United States and Iran intensifies again, it is violently pushing up government bond yields in major countries that were already unstable.
Asian markets today: South Korea’s Kospi, Japan's Nikkei 225 fall up to 3% amid fresh concerns around US-Iran war
Asian markets today: Japan’s Nikkei 225 declined 1.60%, while the Topix slipped 1.44%. South Korea’s Kospi dropped 2.87% at the open, while the small-cap Kosdaq fell 2.51%.
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