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On Wednesday, European stock markets started lower after fresh hostilities showed up between Pakistan and India, making Asian assets dive and also pushing traders into safe havens, including the Japanese yen.
The STOXX 600 lost 0.5%. As for the key regional indexes, all of them found themselves in the red. American stock futures for the S&P 500 lost 0.1%.
Previously, Pakistan told it had delivered air strikes in Indian-controlled Kashmir and also put down two Indian jets.
Pakistan and Indian currencies and bonds headed south, while MSCI's broadest index of Asia-Pacific stocks outside Japan declined by 0.15% because the threat of conflict between the nuclear-armed countries increased.
Besides this, financial markets were monitoring the US-North Korean summit, expected to burst out in Hanoi on Wednesday. American leader is going to meet North Korean leader Kim Jong Un, with America urging the isolated country have its nuclear weapons program dismantled.
The heightened geopolitical risks helped a number of assets considered safer than shares. For instance, one of them is the Japanese yen that soared versus the evergreen buck.
The evergreen buck kept to a three-week minimum after on Tuesday Fed Chair Jerome Powell repeated that the major US bank had shifted to a more patient stance as for changes to interest rates.
Meanwhile, in the Forex market, the UK currency kept soaring after Prime Minister Theresa May gave British lawmakers a chance to vote on postponing Brexit. The UK pound was worth $1.3274, having ascended to $1.3288 on Tuesday, which is its highest outcome for five months.
Crude prices went up following a report that American crude inventories had slipped and producer club OPEC reportedly stuck with its supply cuts notwithstanding pressure from Donald Trump.
As for gold, it tumbled by 0.17% hitting $1,326.24.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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