A Bloodbath Session in Asia Markets as Iran Strikes Back, Investors Look for Safe Haven
A Bloodbath Session in Asia Markets after Iran Strikes Back, Oil Jumps 4%, Gold Gains 2%.
Stocks in Asia plunged right after the report of Iranian missiles hit an air base housing US troops in Iraq early in the morning.
As of 9:38 on January 8, 2020, Nikkei fell 1.92%, SSEC plunged 0.74%, HSI slipped 1.11%, ASX 200 dipped 0.54% and Kospi lost 1.15%.
Early in the morning, Iran has fired six missiles at an airbase in Iraq housing some American troops early Wednesday, according to Iran’s news report.
White House press secretary Stephanie Grisham said officials are aware of reports of attacks, and added that the U.S. President Donald Trump was “monitoring the situation closely.”
Iranian state TV said the attack, which was named “Martyr Soleimani,” was in revenge for the killing of its top general Qassem Soleimani last Friday, and later prompted angry calls from Iranians to avenge his death.
On the other hand, WTI crude futures rose 4.5% or $2.85 to a session high of $65.65 while Brent jumped more than 4% to a session high of $71.75 per barrel.
Meanwhile, Spot gold rose 1.9% to $1,603.21 per ounce by 0056 GMT and U.S. gold futures jumped 2% to $1,605.80.