๐๐ Geopolitical Tensions Roil Markets: Asian Stocks Slide, Gold Rises ๐๐ช
Over the weekend, heightened tensions between Iran and Israel rattled global markets, impacting Asian shares and boosting gold prices. ๐๐
Amid fears of a broader regional conflict, Asian stocks experienced declines, with Japan's Nikkei sliding 1% and Australia's S&P/ASX 200 losing nearly 0.5%. Hong Kong's Hang Seng Index was down 0.63%. ๐๐ผ
However, China's markets bucked the trend, rising after the country's securities regulator proposed draft rules to enhance supervision of company listings and trading activities. ๐จ๐ณ๐
The flight to safety drove gold prices up over 0.5%, while oil prices remained largely unaffected despite the geopolitical tensions. Brent crude futures edged lower to $90.23 per barrel, while U.S. West Texas Intermediate crude futures fell to $85.36 a barrel. ๐ข๏ธ๐
In the U.S., stock futures ticked higher after Friday's selloff, with S&P 500 and Nasdaq futures each rising about 0.4%. ๐บ๐ธ๐
Meanwhile, U.S. Treasury yields held near recent highs as traders recalibrated their expectations for Fed rate cuts, with the dollar hitting a fresh 34-year high against the yen. The euro and sterling remained near five-month lows. ๐ต๐
The shifting rate outlook has impacted bitcoin's rally, with the cryptocurrency falling over 3% to $65,010 amidst the global risk-off sentiment. ๐๐ช
As geopolitical tensions persist and market participants await further clarity on the future path of U.S. interest rates, volatility is likely to continue across global markets. ๐๐
