Asian Stocks Slump as Mideast Woes, Hawkish Fed Sour Sentiment
Asian stocks plunged as broad risk aversion swept through markets on renewed concerns over an escalation of tensions in the Middle East and worries about higher-for-longer US rates.
Asian stocks plunged as broad risk aversion swept through markets on renewed concerns over an escalation of tensions in the Middle East and worries about higher-for-longer US rates.
Oil jumped after US officials said Israel struck targets in Iran, with Brent rallying on concerns over the potential for a wider regional conflict that could endanger crude supplies.
Iran shut airspace over the west of the country and its capital after Israel launched a missile strike, forcing commercial flights to reroute for the second time in less than a week as regional tensions escalate.
A senior Barclays Plc investment banker said investors are rapidly moving away from risk assets due to concerns about an escalation in the Middle East conflict.
The European Union’s demand for liquefied natural gas, which provided a key lifeline during the energy crisis, will likely peak this year as the region accelerates its renewables transition, according to the bloc’s energy regulator.
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