Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
Hello, this is Leonie Kidd writing to you from Singapore (yes, that’s right — not London this week!). Welcome to another edition of CNBC’s Daily Open.
Flying into Singapore over the weekend gave me a front row seat to the literal sea of cargo ships sitting idle in the Port of Singapore. Hopes that tanker traffic could resume with the reopening of the Strait of Hormuz were dashed before engines could even fire up. And now, any resumption looks even less likely following a spike in tanker attacks launched by Iran, as well as a U.S. strike on an Iranian-flagged cargo ship.
Early trading in equities is remarkably stable, but as Europe and the U.S. come online, it will be interesting to see if the risk-off trade accelerates across global markets.
A U.S Navy guided missile destroyer fired on and disabled an Iranian-flagged cargo ship in the Gulf of Oman before Marines boarded and seized the vessel, U.S. President Donald Trump said Sunday.
