After Iran fired missiles this evening at bases in Iraq which house U.S. forces, financial markets reacted strongly — risk assets fell and safe havens rose.
Futures for the Dow Jones Industrial average were down over 400 points at one time in the evening, although they have recovered somewhat. The S&P was down about 2%.
Gold rose to over $1,600 an ounce and West Texas Intermediate crude topped $65 a barrel.
Bitcoin traveled well into the 8,000 handle.
Treasury yields plummeted as investors looked for safety. The ten year briefly touched 1.7%.
It’s safe to say tomorrow’s action in the markets will be geopolitically dependent.