Dow futures drop nearly 300 points, oil prices rise after US airstrike in Baghdad

0
96

[ad_1]

Stock futures fell and oil prices rose early Friday after a U.S. airstrike killed a top Iranian general and sparked geopolitical tensions in the Middle East.

The Dow futures fell almost 300 points and the Standard & Poor & # 39; s 500 futures fell 1.1%. The shares closed records on Thursday after an outstanding performance in 2019, where they had their best year since 2013.

The Pentagon launched an airstrike late Thursday that killed General Qasem Soleimani, chief of the Iranian elite's Quds Force. He was an influential figure in Iranian politics, and his death raises fears of possible retaliation against the United States.

The Department of Defense said it had carried out the attack as a "defense operation" against Soleimani, which was planning further attacks on American diplomats and members of the military.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Worried about the stock market? How to shield your 401 (k)"data-reactid =" 14 ">Worried about the stock market? How to shield your 401 (k)

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "US economy: If a recession hit, it would probably be mild. A recovery would also be tame."data-reactid =" 15 ">US economy: If a recession hit, it would probably be mild. A recovery would also be tame.

Pro-Iranian militiamen and their supporters lit a fire during a sit-in outside the U.S. Embassy in Baghdad, Iraq, on Wednesday, January 1, 2020, against demonstrators gathered for a second day outside the U.S. Embassy in Baghdad ,

Oil prices rose 3.8% to $ 68.83 a barrel on concerns that Iran might respond to Brent, the global benchmark. US crude oil rose 3.7% to $ 63.46 a barrel.

During the past flare-ups with the United States, Iran has threatened to deliver oil from the Persian Gulf to the rest of the world. About 20% of the world's traded oil flows through the Strait of Hormuz, where the shipping lane is only 3.2 km wide and tankers have been attacked this year.

Safe haven assets increased and gold rose 1.4% to $ 1,548.70 per troy ounce.

Bond yields fell. The yield on the 10-year benchmark US Treasury note fell from 1.88% on Thursday to 1.82%.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Carlo Piovano von The Associated Press contributed to this report. "data-reactid =" 31 "> Carlo Piovano from The Associated Press contributed to this report.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "This article originally appeared on USA TODAY: Qasem Soleimani: Dow futures drop nearly 300 points, oil prices rise due to fear of Iranian retaliation against the United States"data-reactid =" 32 ">This article originally appeared in the U.S. TODAY: General Qasem Soleimani: Dow futures fall nearly 300 points, oil prices rise due to fear of Iranian retaliation against the U.S.