World markets were mixed after a tense trading day on Monday, with US equities ending higher and bucking a downward trend in Europe and Asia after the US killing of a top Iranian general Friday.
Since he ordered a drone strike that killed Qasem Soleimani, US President Donald Trump has warned of a “major retaliation” if Tehran takes revenge, triggering a sell-off in stocks and a spike in crude prices. “The new year has started with a bang in so far as volatility is concerned,” said Fawad Razaqzada at Forex.com.
“This is mainly due to the escalation of tensions between the US and Iran after Trump ordered the assassination of Iranian military commander Qasem Soleimani.” Gold shone brightly to briefly touch $1,588.13 per ounce—a level last seen in April 2013—as investors flocked to the safe-haven precious metal, but then eased back.
European stock markets were all weaker at the close, while Wall Street flipped into positive territory late in the day. Analysts said equities were hammered less severely than some had feared, mostly because the Middle Eastern standoff is expected to have only a limited impact on global growth.—AFP