India, July 8 -- Escalating hostilities between the U.S. and Iran spooked market sentiment globally. Markets reacted negatively to President Trump's comments that the tentative ceasefire with Iran was "over". Anxiety ahead of the release of the FOMC minutes on Wednesday afternoon also weighed on sentiment.
Wall Street Futures have dropped around a percent as markets digested the likelihood of a prolonged military conflict between the U.S. and Iran. Major benchmarks in Europe are trading with heavy losses. Earlier in the day, Asian markets had finished trading on a mostly negative note.
Dollar Index has firmed up amidst renewed safe haven demand. Bond yields have hardened across regions amidst fears of inflationary pressures and higher int...