Business
Markets react after Obama’s tough talk on Iran
U.S. President Barack Obama. PHOTO/File
World stock markets fell Monday as tough talk by President Barack Obama over Iran’s nuclear program and uncertainty over Greece’s ability to clear the next hurdle in its debt reduction plan unnerved investors.
Benchmark oil hovered below US$107 per barrel while the dollar gained against the euro but fell against the yen.
Key stock indexes in Europe fell in early trading. Britain’s FTSE 100 lost 0.3 percent to 5,893.10 and Germany’s DAX shed 1.2 percent to 6,832.46. France’s CAC-40 was 0.7 percent lower at 3,476.37.
Wall Street was headed for a lower opening, with Dow Jones industrial futures down 0.5 percent 12,907 and S&P 500 futures 0.5 percent lower to 1,361.80.
Benchmarks in Asia recoiled as investor enthusiasm wilted.
Japan’s Nikkei 225 index fell 0.8 percent to 9,698.59 and South Korea’s Kospi dropped 0.9 percent to 2,016.06. Hong Kong’s Hang Seng lost 1.4 percent to 21,265.31. Australia’s S&P/ASX 200 eased 0.2 percent to 4,263.
Benchmarks in Taiwan, Singapore and Indonesia also fell.
