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Stocks tumble as Wall Street fears a prolonged war with Iran
- U.S. stock index futures fell over 1% on Monday as investors priced in a conflict lasting weeks, while global stock markets from Europe to Asia sold off sharply.
- Iran said Monday it would attack ships transiting the Strait of Hormuz, following coordinated United States and Israel strikes that killed Ayatollah Ali Khamenei, Iranian Supreme Leader, while President Donald Trump warned, `Wars can be fought 'forever,' and very successfully'.
- The U.S. crude oil at $77.76 per barrel and Brent crude at $84.70 jumped over 9% Tuesday, while the CBOE VIX surged 22% to a three-month high.
- Carriers and travelers faced immediate disruption as airlines halted flights and carrier stocks plunged in premarket trading on Tuesday, while the U.S. gasoline price rose about $0.11 to roughly $3.11.
- Broader economic and political costs are emerging as analysts warn the oil price surge will worsen inflation and could delay Federal Reserve rate cuts, while U.S. Congress prepares a war powers vote and the Pentagon expects more troop losses.
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Markets hit with sell-off as war with Iran broadens
A worldwide sell-off of stocks is slamming onto Wall Street on Tuesday, and oil prices are leaping even higher as worries rise that the war with Iran is widening and may do more sustained damage to the global economy than feared.
·Canada
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Coverage Details
Total News Sources41
Leaning Left8Leaning Right4Center19Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 26%
C 61%
13%
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