The trending news is that most of the global market including gulf market falls after Iran’s attack on israel. Trading and investment might be uncertain nowadays because traders are still thinking about last week’s big economic news worldwide, especially the higher-than-expected rise in prices in the US.
In Saudi Arabia, the main stock market went down by 0.3%, but it managed to recover from an even bigger drop earlier. In Qatar, the main stock market was down by 0.8%.
In Tel Aviv, Israel, stocks in the overall market went up by 0.3%.
Iran attacked Israel with drones and missiles over the weekend in retaliation for what they think was an Israeli attack on their consulate in Syria. They also warned the US and Israel that they’d hit back even harder if there’s more retaliation.
Israel said they’re not done with their actions yet.
An expert in London named Tina Fordham thinks it’s uncertain whether Israel will start a bigger fight. She thinks oil prices will likely go up on Monday.
Last week, oil prices were already going up because people were worried about Iran’s response. The price for Brent crude oil reached $92.18 a barrel, the highest since October.
On Friday, some safer investments went up because traders were worried about what might happen over the weekend when the markets were closed. The yield on the 10-year US Treasury bond decreased drastically, which is unusual.
Also, the price of gold went up and hit a new high of $2,400 an ounce.
Bitcoin, a current form of digital money, dropped by 8% in just 20 minutes on Saturday when news about the attack came out. But it went back up later and was trading at around $64,500.
Investors are discussing and analysing the situation with Iran and Israel. But they’ll also be thinking about the recent news about prices going up in the US and what that might mean for the Federal Reserve, which is in charge of managing the country’s money.
Since October, when there was a fight between Iran-backed Hamas and Israel, global stock prices have been continously increased. This is because the economy has been doing pretty well, especially in the US, and people think major central banks will lower interest rates.
In Saudi Arabia, the main stock index has gone up by about 20% since October 8th. Some investors are more interested in the bigger economic picture rather than just what’s happening between Iran and Israel.
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