- Oil benchmarks jumped after Hamas attacked Israel, while stocks slipped in an initial reaction.
- Iran becoming embroiled in the crisis would be bad news for the US economy, according to analysts.
- Crude prices would soar in that scenario, undermining the Fed’s inflation fight and dragging down growth.
Iran becoming embroiled in the crisis gripping the Middle East could have disastrous knock-on effects for the US economy, analysts have warned.
Wall Street is fretting that Hamas’ shocking attack on Israel Saturday will spiral into a full-blown conflict between Tel Aviv and Tehran that could drive up oil prices, unravel the Federal Reserve’s fight against inflation, and drag down GDP growth.
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