Oct 9 (Reuters) - Fears of a widening conflict in the Middle East are threatening more volatility for investors after a painful stretch in U.S. markets.
Investors were on guard for the potential of the conflict spreading to embroil other countries, including Iran, and a continued spike in oil prices.
Prices for gold, a popular destination for investors during uncertain times, were up 0.9% at $1,849.40 per ounce.
Among those is a potential rebound in oil prices that could weigh on U.S. economic growth and endanger the so-called soft landing narrative that has helped boost stocks this year.
“The worst-case scenario from a geopolitical risk perspective would be a full-scale confrontation between Israel and Iran,” said Tina Fordham, geopolitical strategist and founder of Fordham Global Foresight.
Persons:
Brent, ”, Mohit Kumar, Tina Fordham, Paul Nolte, Murphy, Emmanuel Cau, Althea Spinozzi, Naomi Rovnick, Lewis Krauskopf, Dhara Ranasinghe, Davide Barbuscia, Marc Jones, Ira Iosebashvili, Nick Zieminski
Organizations:
Jefferies, Fordham Global Foresight, Federal Reserve, Sylvest Wealth Management, Treasury, Barclays, Mobileye, Intel, Solaredge Technologies, East, Saxo Bank, Thomson
Locations:
U.S, Gaza, Iran, Europe, London, Israel, United States, Germany