Israel’s large-scale military strikes on Iran’s military leaders, nuclear facilities and missile factories sent global markets into turmoil, with oil prices soaring and stocks plummeting.
Safe-haven assets rallied, with gold climbing to $3,416 per ounce, nearing its April high of $3,500.05, while the U.S. dollar index gained 0.8% to 98.50. The Swiss franc and Japanese yen saw fleeting strength before easing.
The Israeli shekel fell 1.7%, and regional bonds from Israel, Egypt, and Pakistan slipped.
U.S. stock futures dropped over 1%, European shares fell nearly 1%, and Asian markets, including Japan and South Korea, declined over 1%. U.S. 10-year Treasury yields rose to 4.38%, reflecting inflationary pressures from higher oil prices, despite an initial flight-to-safety push.
Charu Chanana, chief investment strategist at Saxo, noted the “geopolitical escalation adds uncertainty to fragile sentiment,” predicting sustained pressure on crude and safe-haven assets if tensions persist.
