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Oil hits $70 and stocks slide as US-Iran tensions rise – business live

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Rolling coverage of the latest economic and financial news, as Middle East crisis drives crude prices up

Japan’s Nikkei index has started 2020 badly, shedding 451 points or nearly 2% to 23,204.86. The day began with the traditional ceremonies to start the new trading year, with staff donning kimonos and posing before the electronic screens. But this dash of colour was followed by hefty dollops of electronic red ink, as stocks tanked. Lee Hardman of Japanese bank MUFG says traders are anxious, and trying to deduce how Iran will respond to the death of its top general.

 

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All the kids in Iran, Iraq and USA who are about to become orphans must be devastated.

So who is getting richer off this? FollowtheMoney

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Even for this resilient bull market, the threats are starting to multiplyTrading has been buoyant through recent turbulence, but tensions in Iran – or a rise in the base rate – might change that Chaos and the initial condition. Wish you well
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