As tensions rise in the Middle East, global markets are feeling the strain. Read more to find out how stock markets, oil prices, and the South African rand are responding to the latest developments.
Over the weekend, tensions in the Middle East escalated as military strikes from both Iran and the United States sent ripples of uncertainty through global markets.
Bianca Botes, Managing Director at Citadel Global said that as these two nations continue to exchange threats and military action, investors are left grappling with the implications on oil supply and financial stability.
US futures opened in the red this morning, reflecting a stark turn following Friday's positive close on Wall Street.
"This downturn can be attributed to rising tensions and the ominous threats regarding a potential closure of the Strait of Hormuz, a critical pathway for global oil transport that heightens the stakes for international trade and economic stability," Botes said.
