European markets set to extend declines as Middle East tensions weigh on sentiment

Geopolitical tensions are high following Iran's extensive drone and missile attack on Israel Saturday night. Israel has vowed to retaliate but has signaled that it could bide its time. Allies have called for cool heads, warning that a much bigger war in the Middle East could be easily triggered.to Iran's air assault over the weekend. Most major markets in Asia lost about 2%. Data released Tuesday showed China's economy grew 5.3% in the first quarter from a year ago, more than the 4.

The 50-day moving average is a technical indicator that traders watch to assess short-term trading trends. A close below this level could signal an upcoming downtrend for an asset. "What is not priced into the current market, in our view, is a potential continuation of a direct conflict between Iran and Israel," Maximilian Layton, head of commodities research at Citi, told clients in a note. Oil prices could spike above $100 a barrel depending on how Israel responds to the attack, the analyst wrote.

Source: Financial Digest (financialdigest.net)

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