Middle East Crisis Fuels Global Economic Concerns; Gold Slumps, Asian Markets Plunge, Korean Won Falls
The escalating Middle East crisis continues to spark global economic concerns, including a looming LNG supply crunch and unexpected responses from financial markets. Gold has notably slumped despite the war and inflation, while the Korean won fell to a 17-year low and Asian stock markets plunged.
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War and Inflation Are Supposed to Be Gold’s Friends. Not This Time. - WSJ
War and Inflation Are Supposed to Be Gold’s Friends. Not This Time. WSJ
Read full article →Korean won sinks to 17-year low on Mideast turmoil
The Korean won fell to its weakest level in 17 years on Monday, breaching 1,510 per US dollar, as escalating tensions in the Middle East sent shock waves through global markets. As of 9:42 a.m., the won was trading at 1,510.3 per dollar, a retreat of 9.7 won from Friday’s close. After opening at 1,504.9, it weakened to as much as 1,511.8 in morning trade — its lowest value against the dollar since March 10, 2009, when it hit 1,561 won. The currency had already closed past the 1,500 mark for two
By The Korea Herald
Read full article →Stocks slide in Japan as Strait of Hormuz fears amplify risk-off mood
The Nikkei 225 fell over 3.1% in early Monday trading while the broader Topix dropped as much as 2.7%, with skyrocketing oil prices sapping risk appetite across sectors.
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