Chairman and CEO of the Avenue Capital Group hedge fund Marc Lasry shares his insights on how global conflicts like U.S. airstrikes in Iraq can affect financial markets and also looks back on market highs and lows in 2019.
BEIRUT (AP) — Major stock markets in the Middle East traded down on fears of a conflict between Iran and the U.S. after an American drone strike killed Iranian Gen. Qassem Soleimani.
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The Boursa Kuwait closed down 4%. The Dubai Financial Market closed down just over 3%. Riyadh’s Tadawul was down over 2%. The Abu Dhabi Securities Exchange fell 1.42%.
Egypt’s stock exchange also fell 4%.
Meanwhile, oil prices continued to rise. Brent crude traded up 3.5% to $68.60 a barrel.
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The U.S. killed Soleimani on Friday. Early Sunday, as Iran threatened “harsh retaliation,” President Donald Trump tweeted the U.S. was prepared to strike 52 sites in the Islamic Republic if any Americans are harmed.
