Dow, S&P, and NASDAQ in the red as Iran prepares to launch missile against Israel
Significant downside risks to equities have come into play as Iran prepares to launch a missile attack on Israel in retaliation to the latter's attack on Hizbollah in Lebanon. Fears of an all-out war in the Middle East have escalated, hitting US equities. The Dow Jones is down 0.6%, S&P down 1.2%, and the NASDAQ down 1.9%.
On the back of these escalations, the US dollar index has spiked to 0.5% to 101.28. The pound is losing value, sliding against all major currencies. GBP/USD plunges 0.9% to $1.3250, while GBP/JPY has lost a shocking 1.2%. GBP/CAD is also hit with a 1.1% drop.
However, commodities are having a hay day. Brent Crude futures have spiked 5.8%, while UK gas futures rising to £97.45, a year-to-date high. And as ever, gold is up 1.2% and is in touching distance of yet another all-time high.
Newspage is looking for any thoughts you might have on the current tensions in the Middle East, what this could spell for equities as well as other asset classes/commodities, and what risks this could mean for inflation.