Mideast tensions in the past have moved markets, U.S. economy
White House confirms US responsible for strike that killed top Iran general
In an escalation of U.S.-Iran tensions, the U.S. has taken responsibility for airstrike on an Iraq airport that killed Iran’s top general Qassem Soleimani.
Investor’s Business Daily reported late Thursday night that the Dow Jones and NASDAQ futures fell as a result of rising tensions between the U.S. and Iran in the wake of a U.S. strike that killed Gen. Qassim Soleimani, head of Iran's elite Quds Force.
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Dow Jones futures fell 0.6 percent vs. fair value, erasing slim gains while the NASDAQ 100 futures lost 0.55 percent. However, it should be noted that overnight activity in the futures does not always translate to the next day’s trading activity.
OIL MARKETS WARILY EYE MIDEAST FOLLOWING U.S. AIRSTRIKE IN IRAQ
Military tension – especially those in the Middle East — have seen gyrations in the markets and the economy in the past.
Two weeks prior to Operation Desert Storm in 1991 with the threat of military action in the air, the S&P 500 fell nearly 5 percent. On Jan. 17, 1991 when the U.S. air campaign began the S&P went up 3.7 percent.