Global Markets Nervous as Trump’s Iran Deadline Looms

Global financial markets returned from the holiday period under growing tension as Trump's Iran deadline approached.

The S&P 500 edged up 0.08% while European shares declined.

Al Jazeera

Oil prices rose above $110 a barrel for Brent crude.

Asian markets showed a mixed performance with Japan down and South Korea up, led by Samsung Electronics' earnings.

The backdrop to market volatility is the escalating U.S.-Israeli military campaign against Iran.

Trump's unilateral ceasefire deadline demanded Iran accede to terms or face continued bombardment.

BBC

The situation deteriorated further with strikes inside Iran.

Growing congressional opposition raises questions about the war's legality.

Energy markets have been a central point of tension.

Brent crude briefly spiked above $115 per barrel.

The Strait of Hormuz is a vital chokepoint for 20% of global oil shipments.

Iran's closure and missile strikes have disrupted supply chains.

Safe-haven demand supported the U.S. dollar.

The South Korean won depreciated to a 17-year low against the dollar.

CBC

Japan's 10-year government bond yield climbed to 2.43%.

Gold prices struggled amid rising real yields.