World stock markets respond to Middle East crisis:

  

                                    World stock market respond to Middle East crisis:

The US was hit hard wiping $billions as all stock markets slump, Dow down 0.4%, S&P 500 down 0.9%, Nasdaq down 1.5%. This had shown US market vulnerability in response to the Middle East crisis, any escalation would have a devastating impact to US economy.

London stock exchange surprised the markets as it remains buoyant, ended the day 0.2% up. This is attributed to the increase in energy shares as oil prices increased responding to possible risk of all-out war in Middle East that will affect oil production in the region.

Market Analysis:

Gold prices fell 0.14% by closing of business on Wednesday 2 October 2024.

Brent futures crude oil gained 2.6% as fear grows on possible production disruption to Iran, which is the 7^th producer of oil in the world.

Defence & guns producing company stocks rose an average of 3%, in anticipation of demand in ammunition and arsenals of war should the Middle East crisis escalates (Reuters,2024).

Elliot is an Academic in Business management.