The global market economy reacted sharply after Israel’s attack on Iranian nuclear facilities, which according to local media led to the deaths of several officials, including Revolutionary Guard Chief Hossein Salami. As reported by Euronews magazine, news of the attack immediately shook stock markets in Europe and Asia.
Economy Under Pressure: Geopolitical Tension and Rising Oil Prices
Oil prices shot up when the American benchmark WTI rose by 11.07% in a single day to approximately $74.61 per barrel and Brent increased by 9.12% to $76.20. This development reflects concerns about supply disruptions due to escalating conflict in the Middle East.
Conversely, European stock indices fell sharply – Euro Stoxx 50 by 1.37%, German DAX by 1.3%, and Italian FTSE MIB by 1.53%, according to TradingView data. Stock exchanges in France and Spain also recorded declines.
Gold Reacts Positively
Approaching All-Time High
Gold strengthened by 1.68% in the last 24 hours and its price is dangerously close to its historical maximum. Currently attacking the $3,500 per ounce threshold, which it could break at any moment. Investors are seeking gold as a safe haven during periods of geopolitical uncertainty and rising market volatility.
Asia in Milder Reaction, Wall Street Oscillates
Wall Street in Stable Trend for Now
Futures contracts in the US recorded losses: S&P 500 fell by 1.38%, Nasdaq 100 by 1.46%, and Dow Jones by 1.29%. On the other hand, Thursday’s inflation data supported investor sentiment. US indices strengthened slightly that day – S&P 500 by 0.4%, Nasdaq Composite by 0.2%, and Dow Jones by 0.2%.