MSCI's broadest index of Asia-Pacific shares dived 2.3% and U.S. stock futures pointed 1.5% lower following media reports Israeli missiles had hit a site in Iran.
Israeli Prime Minister Benjamin Netanyahu had vowed retaliation earlier this week after Iran launched hundreds of drones and missiles in an unprecedented direct attack on Israel over the weekend. Equity markets were already heading lower before the Middle East headlines, as more robust U.S. economic data spurred additional Federal Reserve officials to signal no rush to lower interest rates.
"A triple whammy of sorts for the markets, as Fed's hawkishness keeps taking a leg up with each passing day and semiconductor earnings have so far fallen short," said Charu Chanana, head of currency strategy at Saxo.Scan QR code to install app
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Stocks drop as Middle East tensions, Treasury yields weighStocks drop as Middle East tensions, Treasury yields weigh
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Asia Stocks Pull Back Amid Middle East TensionsAsia stocks pulled back on Monday as worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money.
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Stock market today: Asian stocks track Wall Street's decline as Middle East tensions escalateAsia stocks are mostly lower as worries about potentially escalating tensions in the Middle East rattle financial markets. U.S. futures rose and oil prices fell. The retreat in Asia on Monday following a mixed start to earnings reporting season that took the S&P 500 down 1.5% on Friday. The Dow dropped 1.2%, and the Nasdaq composite fell 1.
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Stock market today: Asian stocks track Wall Street's decline as Middle East tensions escalateAsia stocks are mostly lower as worries about potentially escalating tensions in the Middle East rattle financial markets.
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