The News
Middle East financial markets tumbled as the world awaits a potential Iranian attack on Israel. Israel’s benchmark TA-35 index slid 3.1% to its lowest level since February, Bloomberg reported, as indexes in Saudi Arabia, Egypt, and Turkey also plummeted.
Despite fears of an expanded Mideast war, the global market meltdown saw oil prices slump to a seven-month low.
One strategist downplayed the geopolitical risks for regional markets, telling Bloomberg that most tourist hubs and oil facilities are far from the conflict zones of Israel and Lebanon. Meanwhile, countries braced for impact: Jordan asked airlines to carry 45 minutes of reserve fuel in case of an attack, and some airlines have canceled flights to Israel and Lebanon.