Ain al-Asad air base in the western Anbar desert, Iraq, Sunday, Dec. 29, 2019.
Nasser Nasser | AP
U.S. stock futures plunged on Tuesday night on reports that rockets were fired at an Iraqi airbase that hosts American troops.
Dow Jones Industrial Average futures dropped 256 points and indicated a loss of 282 points at Wednesday’s open. S&P 500 and Nasdaq 100 futures pointed to losses of at least 1%.
Al Asad airbase in western Iraq has come under attack, US military officials told NBC News. Multiple projectiles hit the airbase but it was not clear whether it was rockets or missiles yet.
The news also sparked a surge in oil prices along with gold, which is considered to be a safe-haven asset.
Crude futures jumped more than 3% to around $64.75 per barrel. Gold futures for February delivery were up by 1.3%, trading at 1,594.60.
In Asia, Nikkei futures pointed to a lower open in Japan, while Australia’s ASX 200 slipped 0.78%.
The Japanese yen, another safe haven asset, strengthened against the U.S. dollar, trading at 107.89 around 7:45 a.m. HK/SIN, from an earlier low of 108.52.
This is breaking news. Please check back for updates.
