WASHINGTON, Oct 16 — The Israeli-Hamas war has sharpened focus on rising geopolitical risks for financial markets, as investors wait to see if the conflict draws in other...
Trading had been choppy in the last week as Wall Street worried about whether other countries such as Iran would get involved, but investors were directing most of their attention to interest rates and issues related to the US economy.
Trading had been choppy in the last week as Wall Street worried about whether other countries such as Iran would get involved, but investors were directing most of their attention to interest rates and issues related to the US economy.“As long as the war remains relatively localized, US investors are keeping an eye on the Middle East but focused on the Federal Reserve and the earnings season,” said Paul Nolte, market strategist for Murphy & Sylvest in Elmhurst, Illinois.
“I have no clue whether markets will remain relatively well behaved,” said Erik Nielsen, group chief economics adviser at UniCredit. “It almost certainly depends on whether this latest conflict remains localized or whether it escalates into a broader Middle Eastern war.” However, while inflation and rates in other countries will likely rise in this worst-case scenario, the United States could be the exception as foreign investors pour capital into what they deem a safe haven during global conflict, Baumohl noted.In Europe, economists said the bar for another rate hike from the European Central Bank was high.
Other energy markets could be impacted, as seen in recent developments such as Chevron halting natural gas exports through a major subsea pipeline between Israel and Egypt.
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