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Stock market futures fall, Asian markets fall after Israel hits back at Iran – oil and gold prices rise

There are more and more cryptocurrency whales – you too?

New research shows the biggest crypto buyers are back. And this time? They could hold on to the possibility of Bitcoin breaking $100,000 in 2024. You don't want to miss out on the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what's going on and what you should buy… Get access to Benzinga's best crypto research and investing for just $1.

Stock market futures took a tumble on Thursday amid renewed tensions between Israel and Iran. Oil prices rose over 3% while gold prices rose on concerns. Reports of explosions in Iran, Syria and Iraq added to the uncertainty following the Israeli military operation.

What happened: Dow Jones Industrial Average futures fell 430 points, down 1.15%. S&P 500 futures also posted a loss of nearly 1.34%, while Nasdaq 100 futures fell 1.62%, according to data from Benzinga Pro.

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Oil prices also rose over 3% in Asian morning trade, with global benchmark Brent crude futures topping $90 a barrel.

Gold prices rose above $2,400 an ounce on concerns about growing tensions between Israel and Iran, leading to increased demand for safe-haven assets.

According to Bloomberg, gold prices rose as much as 1.3%, marking the fifth consecutive weekly rise, driven by unconfirmed media reports of explosions in Iran, Syria and Iraq.

Asian markets reacted with significant declines on Friday to the escalating tensions between Israel and Iran. The Nikkei 225 recorded a significant decline, trading at 37,085.40, down 2.61%, while the Hang Seng Index also recorded a decline, trading at 16,177.25, down 1.27%. India's Nifty 50 opened the day at 21,813.20, down 0.83%, reflecting cautious sentiment among investors.

See also: Bitcoin Analyst Predicts “Significant Probability” of Price Surge as Hype Fades: “Narratives Will Change”

Why it matters: The renewed conflict between Israel and Iran follows a series of alleged retaliatory strikes by Israel on Iran, Syria and Iraq. This escalation followed an Iranian missile attack on Israel that was seen as retaliation for an incident in Syria attributed to Israel.

The US responded to the April 13 attack on Israel by increasing economic pressure on Iran and imposing new sanctions on a network of individuals and organizations involved in the development of Iran's unmanned aerial vehicles (UAVs). . These UAVs were reportedly used in the attack, affecting units of Iran's Islamic Revolutionary Guard-Quds Force (IRGC-QF).

Amid these developments, the stock market was volatile as investors feared a possible escalation in the Middle East, where a significant portion of the world's oil is produced. The price of oil is of particular concern. Experts warn that sustained prices above $100 a barrel could increase the likelihood of a U.S. recession.

Read more: S&P 500 and Nasdaq futures point to higher open today: What's going on?

This content was created in part with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

There are more and more cryptocurrency whales – you too?

New research shows the biggest crypto buyers are back. And this time? They could hold on to the possibility of Bitcoin breaking $100,000 in 2024. You don't want to miss out on the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what's going on and what you should buy… Get access to Benzinga's best crypto research and investing for just $1.

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