NEW YORK (AP) — Shares fell in Asia as investors braced Monday for an expected invasion by Israel in the Gaza Strip. U.S. futures edged higher while oil prices…
— Shares fell in Asia as investors braced Monday for an expected invasion by Israel in the Gaza Strip.
U.S. futures edged higher while oil prices were little changed.
Israeli forces, supported by a growing deployment of U.S. warships in the region and the call-up of some 360,000 reservists, have positioned themselves along Gaza’s border and drilled for what Israel said would be a broad campaign to dismantle the militant group.
More than a million people have fled their homes in the besieged enclave in the past week, ahead of the expected invasion meant to eliminate Hamas’ leadership after its deadly Oct. 7 attack.
“Who can blame markets for being jittery,” RaboResearch Global Economics and Markets said in a commentary. “The world now holds its breath as Israel prepares for a full-scale ground invasion of Gaza, with only unseasonal torrential rain delaying the seemingly inevitable.”
The conflict has jolted oil markets, adding to uncertainties already hanging over the global economic outlook. The Gaza region is not a major producer of oil, but the fear is that the violence could spill into the politics around the crude market and eventually lead to disruptions in the flow of petroleum, with broad ramifications for many industries.
