Markets wobble as Iran strikes US forces

January 08, 2020 17:08

Equity benchmarks clawed back most of their lost ground to end modestly lower on Wednesday as global markets were whiplashed by a fresh wave of volatility after Iran launched retaliatory strikes against US forces in Iraq. After plunging nearly 400 points in early trade, the 30-share BSE Sensex stabilised to finally settle 51.73 points, or 0.13 per cent, down at 40,817.74. Similarly, the broader Nifty shed 27.60 points, or 0.23 per cent, to finish at 12,025.35.

World equities nosedived while gold and US Treasuries firmed up on safe-haven demand after Iran fired more than a dozen ballistic missiles at two Iraqi bases with US personnel in response to the killing of its top general Qasem Soleimani. -- PTI

Image: Mourners attend a funeral procession of Iranian Major-General Qassem Soleimani, head of the elite Quds Force of the Revolutionary Guards, and the Iraqi militia commander Abu Mahdi al-Muhandis, who were killed in an air strike at Baghdad airport, at Imam Ali Shrine in Najaf on January 4, 2019. Photograph: Reuters.

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