US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Fitch Eyes Japan Budget for Fiscal Discipline 
Norway Core Inflation Rises to 3% in August 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
German Inflation Accelerates to 2.9% in August 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
China Inflation Accelerates in August as CPI, PPI Rise 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Asian Stocks Mixed as Korean Chipmakers Rally 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
South Korea GDP Surges on Chip and AI Boom 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
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MSCI's global equities index dropped Tuesday as geopolitical tensions led investors to flee riskier assets. Oil futures surged amid fears of supply disruptions after Iran's missile launch, which followed Israel’s actions against Hezbollah in Lebanon. Both U.S. crude and Brent oil closed higher, gaining over 2%.
Wall Street's Mixed Reaction
While U.S. stocks closed above session lows, Treasury yields also pared declines on hopes that the Middle East conflict would not escalate further. The Dow Jones Industrial Average fell 173.18 points (0.41%) to 33,520.97, the S&P 500 lost 53.73 points (0.93%) to 4,108.75, and the Nasdaq Composite dropped 278.81 points (1.53%) to 17,910.36. The CBOE Volatility Index hit 19.25, its highest level since September 9.
Geopolitical Tensions and Domestic Concerns
The missile attack heightened safe-haven demand for the U.S. dollar and gold, with the dollar index rising 0.45% to 101.20 and gold prices climbing more than 1%. Compounding investor anxiety were concerns about potential disruptions to U.S. ocean shipping from a dockworkers' strike on the East and Gulf Coasts and the aftermath of Hurricane Helene.
“Markets were priced for perfection," said Carol Schleif, Chief Investment Officer at BMO Family Office. “Then you throw in the third factor of Iran firing missiles.”
Safe-Haven Assets Gain Ground
Spot gold rose 0.91% to $1,658.39 an ounce, with U.S. gold futures increasing 0.95% to $1,661.10. The Japanese yen and Swiss franc also saw gains as investors sought safer assets amidst heightened tensions and market volatility.
