China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
UK House Prices Fall for First Time Since 2023 
Asian Stocks Mixed as Korean Chipmakers Rally 
China Expands Influence in Global Gold Market 
OPEC+ Expected to Hold October Oil Output Steady 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
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Wall Street futures dropped sharply Sunday night after the United States and Israel launched coordinated strikes on Iran, intensifying geopolitical tensions and triggering a surge in oil prices. The sudden escalation rattled global financial markets, driving investors away from risk-sensitive assets and into safer alternatives.
By 19:05 ET, S&P 500 Futures had fallen nearly 1.1% to 6,815.75, while Nasdaq 100 Futures declined 1% to 24,737.50. Dow Jones Futures also slid 1.1% to 48,447.0. The decline followed a negative session on Friday, when concerns over artificial intelligence disruptions and persistent inflation pressured U.S. stocks.
Reports indicate that the weekend strikes resulted in significant casualties in Iran, including Supreme Leader Ayatollah Ali Khamenei. Iran responded with retaliatory attacks targeting Israel and several Middle Eastern nations, including Bahrain, Qatar, and the United Arab Emirates. The deepening conflict has heightened fears of a broader Middle East war, particularly as diplomatic negotiations over Iran’s nuclear program had recently stalled.
President Donald Trump stated that military operations would continue until all objectives are met, warning of potential additional American casualties following the deaths of three U.S. service members. Investors are increasingly concerned about the risk of prolonged instability in the region.
Oil prices surged amid worries that the Strait of Hormuz, a critical shipping route responsible for nearly 20% of global oil consumption, could face disruptions. Rising crude prices have added inflationary pressure to an already fragile market environment.
Beyond geopolitical risks, Wall Street has been grappling with ongoing uncertainty surrounding AI-related spending, elevated valuations in technology stocks, and stubborn inflation data. The Nasdaq Composite lost more than 3% last month, while the S&P 500 slipped 0.9% and the Dow Jones Industrial Average remained flat. Strong labor market data and persistent inflation have fueled expectations that the Federal Reserve may keep interest rates higher for longer, further dampening investor sentiment.
