WASHINGTON - Economists and market strategists are anticipating further ripple effects globally from the Middle East conflict, watching to see if the situation draws in other countries with the potential to increasingly drive up oil prices and send capital flowing to safehavens.
In the past week, concerns about the conflict have fed through to asset prices, contributing to weakness in stocks on Friday with the S&P 500 down 0.5%. Safehaven assets saw buying with gold up more than 3% on Friday and the U.S. dollar touching a one-week high. Oil prices leapt nearly 6% on Friday as investors assessed what the conflict could mean for supplies from nearby countries in the world's top oil producing region.
However, while inflation and rates in other countries will likely rise in this worst-case scenario, the U.S. could be the exception as foreign investors pour capital into what they deem a safehaven during global conflict, Baumohl noted.Other fuels could also be impacted, as seen in recent developments such as Chevron halting natural gas exports through a major subsea pipeline between Israel and Egypt.
-- New Zealanders have chosen a center-right government to manage mounting economic challenges in the aftermath of the pandemic, rejecting the left-leaning administration of Prime Minister Chris Hipkins.
Source: News Formal (newsformal.com)
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: GlobalCalgary - 🏆 50. / 61 Read more »
Source: GlobalCalgary - 🏆 50. / 61 Read more »