Stocks wipe out new year gains; gold, oil soar on U.S.-Iran threat

LONDON - Tensions in the Middle East after the United States killed an Iranian general erased new year’s gains for world stocks on Monday as investors pushed safe-haven gold to a seven-year high and oil jumped to its highest since September.

Iraq’s parliament on Sunday recommended all foreign troops be ordered out of the country after the U.S. drone attack killed the Iranian military commander and an Iraqi militia leader. European shares extended losses and were set for their worst day in a week, with the pan-European STOXX 600 index down 1% by midday in London. The European oil and gas stock index .SXEP rose about 0.86%, the only gains, to reach its highest since July.

Chinese shares, which had opened in the red, reversed their losses, as did Australian shares, which ended the day flat. Hong Kong's Hang Seng indexSovereign bonds benefited from the safety bid, with yields on 10-year Treasuries US10YT=RR down at 1.7725% after falling 10 basis points on Friday.

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European stocks seen lower as US-Iran tensions fuel safe haven buyingEuropean stocks are set to open lower on Monday, as investors monitor rising tensions between the United States and Iran. zerohedge 'Britain's FTSE 100 is seen falling 34 points to 7,580, Germany's DAX slumping 110 points at 13,092, and France's CAC dropping 43 points to 5,983, according to IG index data.'
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Iran fully withdrawing from 2015 nuclear deal amid tensions with US - Business InsiderIran is withdrawing from the 2015 nuclear deal, a move that could be perceived as the country taking a big step toward obtaining a nuclear weapon. All part of the plan. You’re welcome Europe. Trump is trying to gain Americans decision on second term, that's why Trump is using Iran as a collateral. If another world war broke out the militia will rule Well done trump you doofus
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