03 January 2020, (8:45 am IST)
02 January 2020, (10:15 pm EST)
World stock markets are crashing as Oil futures surge by nearly 4% in early Asia trading. Reports, that a top Iranian general has been killed in a US airstrike lead to this surge in oil and drop in global stocks.
Read the Full Report Here: Top Iranian Commander Is Killed in U.S. Airstrike in Baghdad
At the time of writing, US and European stock futures are highly negative. Dow Jones futures have lost more than 150 points and DAX (Germany) futures are down by nearly a hundred points. Asian stock markets are trading mixed. SGX Nifty is around 30 points down, hinting at a subdued opening for Indian stock markets.
World stock markets will have a mixed reaction to the US-Iran tensions. Markets that benefit from higher oil prices will have a positive reaction but for economies that depend on oil imports, it will be bad news.
Also, a military flare-up between these two countries will be a negative factor for global stocks.
Right now, the mood is gloomy for world stock markets. Day traders should wait and watch how their local markets react to this news, then trade with the local trend.