Asian stocks fall as US and Iran exchange fire – business live
Rolling coverage of the latest economic and financial news European stock markets have opened broadly flat, as investors look ahead to a key US inflation reading due later this afternoon. The UK’s blue chip FTSE 100 index has ticked up 0.1%. The German Dax and the French Cac 40 are also up by about 0.1%. The Stoxx Europe 600, which tracks the biggest companies on the continent, is up 0.07%. US May inflation data is due out later today, with economists expecting both core and headline inflation t
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02.33 EDTIntroduction: Asian stocks fall as Iran and US exchange fireAsian stocks have fallen sharply after Iran and the US exchanged their biggest round of fire since a ceasefire was agreed in April.The US launched strikes against Iran after Donald Trump blamed Tehran for downing a US army helicopter near the strait of Hormuz.The attacks triggered a wave of retaliatory strikes from Iran on Wednesday morning, with Tehran saying it had targeted Kuwait, Bahrain and Jordan.Japan’s Nikkei index dropped 2%, while the tech-heavy South Korean Kospi slumped by about 6% – although it is still up by more than 70% in the year to date.However, oil prices have actually fallen a bit this morning, with Brent crude – the international benchmark – down 0.2% to $91.28 a barrel.Jim Reid at Deutsche Bank…
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