CNBC Daily Open: Markets trapped in Iran doom loop
A flare-up in attacks between the U.S. and Iran sends global equities into the red, oil sharply higher and bond yields back to pre-intervention highs.
TL;DR
- Global equities are down, led by steep declines in Japan and South Korea.
- U.S. futures are lower, following a significant drop in the Dow.
- Europe is also expected to open lower.
- Global bond yields continue to rise, with U.S. 10-year Treasury yield at a 2025 high.
- Japan's 10-year yield reached its highest since August 1996, and Germany's benchmark yield hit a 2011 high.
- Crude prices are climbing, with WTI futures above $90 and Brent crude over $95.
- U.S. military actions against Iran have led to Iranian retaliation.
- President Trump commented on Iran via Truth Social, stating the U.S. has 'almost total control' over the Strait of Hormuz.
- China dissented from a G20 statement regarding 'non-market based economies'.
- VW may be pushed out of the Euro Stoxx 50 and replaced by Nokia.
- Canadian Prime Minister Mark Carney criticized the Trump administration for 'doing memes' and 'throwing shade'.
- Carney's comments were in response to social media posts mocking Canada's military and an executive order renaming Lake Ontario.