NEWS
ECONOMY   Exchange & Stocks  

US Stock Markets Fall in Aftermath of Top Iranian Commander Assassination

Dow Jones and S&P 500 stock indexes posted their biggest losses in a month after a US assault assassinated Islamic Revolution Guards Corps (IRGC) Qods Force Commander Lieutenant General Qassem Soleimani, tempered only by the buoyant mood of defense and oil-related shares.

Wall Street stocks went down at the news of the assassination of General Soleimani in Iraq on Friday morning.

As markets closed on Friday, the Dow Jones Industrial Average shed 233.92 points or 0.8 percent, in what was its biggest single-day drop in a month. The S&P 500 did not fare much better, plummeting more than 0.7 percent to close the day at 3.234.85 as renewed fears over of a large-scale conflict potentially breaking out in the Middle East soured investor mood.

Defense and aerospace shares surged, however, with Northrop Grumman (NOC) stocks rising 5.45 percent. Lockheed Martin, the maker of the beleaguered F-35 jets, saw its stocks jump 3.63 percent, their best showing in half a year. Missile-maker Raytheon also rallied at the news, adding around 1.5 percent.

Oil and gold stocks were also jubilant. Brent crude leaped 3.5 percent to over $68 a barrel, while US crude climbed 3.1 percent to reach $63.05 a barrel. The US attack drove up gold prices, too. They rose to the highest level in four months.

Surging oil prices caused air carriers to slump as well, with American Airlines losing 4.81% of its value and Delta Air Lines 1.86%, and United losing 2%.

The top commander was martyred in a targeted assassination attack by US aircraft at Baghdad International Airport early Friday morning. The airstrike also martyred Abu Mahdi al-Muhandis, deputy commander of Iraq's Popular Mobilization Forces (PMF), or Hashad al-Shabi.

The Pentagon has announced that President Donald Trump authorized a US military strike near Baghdad's airport which resulted in the martyrdom of General Soleimani.

Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei has stated those who assassinated General Soleimani must await a tough revenge.

News No: 8190
Date: 2020/01/04 - 18:38
News Source: Fars News

US Stock Market  S&P 500  IRGC  General Qassem Soleimani  Seyed Ali Khamenei 

Comments:

Leave a Comment:

   
   
   
 

Iran moving away from exporting raw minerals to create more added value

Deputy Iranian Industry, Mining, and Trade Minister Darioush Esmaieli says over 90 million tons of iron ore was produced in the country during the previous Iranian calendar year of which only seven percent was exported.
 

Companies newly accepted to stock market to get special tax incentives

Leader of the Islamic Revolution Seyed Ali Khamenei has agreed with a plan for offering special tax exemptions and incentives to the companies that are accepted to the stock market in the current Iranian calendar year, IRNA reported.
 

Realizing ‘Surge in Production’ requires macro policy changes: ICCIMA head

Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) says in order to develop the domestic production fundamental changes must be made in the government’s policies, ICCIMA portal reported.
 

SP phase 19 refinery to go through annual overhaul

The operator of phase 19 of Iran’s South Pars gas field said overhaul operations for the field’s 10th refinery, which processes the gas from phase 19, are going to be started on June 9, IRNA reported.
 

IMIDRO to inaugurate projects worth over $2.2b by next March

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) plans to put projects worth $2.276 billion into operation during the current Iranian calendar year (ends on March 20, 2021), according to the head of the organization, IRNA reported.
 

Newly-Elected MPs Pledge Efforts to Fulfill Production Surge Goals

A large group of winners of the recent parliamentary elections in Iran praised Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei for naming the new Iranian year the year of ‘surge in production’, and vowed to do their utmost to attain that goal.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners