Stock prices see major drop after Iraqi airbasestrike

The stock futures in the United States has seen a major drop early on the morning of Wednesday with the news coming in that the Iraqi airbase which hosts the troops of America.

The military officials of United States have told the media that the Al Asad airbase that had been located in the western part of Iraq has come under major attack from Iran with a lot of projectiles managing to hit it.

The report had later been confirmed by Pentagon in a statement which said that Iran had launched over a dozen missiles against the military of United States and Iraq’s coalition forces. It is very clear that the missiles had been launched by Iran and had targeted two military basses in Iraq which had been hosting the military personnel of United States.

Trump has tweeted on Tuesday night saying that everything was okay as of now as there were no casualties or damages that had taken place. He also promised to make a statement on the morning of Wednesday.

This news meant that the oil prices had surged in addition to gold which is considered as a haven asset.

The yen which is also considered to be a safe-haven asset has been trading at 108.35 as against the dollar after it had strengthened to a level of 107.63.

The investors all over the world have been monitoring the developments of between Iran and US after the assassination had taken place of the military leader Qasem Soleimani by the airstrike from United States.

There economy is already fragile and this escalation can not be a good news for the market with a likely surge in oil.

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