Ripple effect seen on markets globally from Middle East conflict
© Reuters. Israeli tanks are seen in the aftermath of a mass infiltration by Hamas gunmen from the Gaza Strip, in Kibbutz Beeri in southern Israel, October 14, 2023. REUTERS/Violeta Santos Moura
"It looks like we’re headed for a massive ground invasion of Gaza and a large-scale loss of life," said Ben Cahill, senior fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies ."Anytime you have a conflict of this scale, you will have a market reaction."
An expanding conflict would also likely cause inflation and, as a byproduct, interest rates around the world to accelerate, said Bernard Baumohl, chief global economist at The Economic Outlook Group in Princeton, New Jersey.
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