Global shares, oil dip as US sanctions on Iran loom
Tech investors await Nvidia's results, while oil slips ahead of US treasury secretary Scott Bessent's announcement on Iran sanctions.
Global stocks declined on Monday as investors awaited details of potential US sanctions on Iran. Oil prices also fell, with oil futures down around 2% prior to the announcement. Investors were concerned about Nvidia's upcoming earnings report, as the company is expected to struggle in meeting high expectations. Federal Reserve Chair Kevin Warsh's speech in Jackson Hole was also anticipated to provide further insight into the Fed's interest rate outlook.
The Canadian dollar slid due to potential trade tensions with the United States. US Treasury Secretary Scott Bessent was scheduled to give a press conference later that day to outline the sanctions on Iran, which aim to compel Iran to relinquish control over the Strait of Hormuz. Alibaba's shares dropped nearly 8.5% on Hong Kong's stock exchange after announcing a US$10.2 billion share offering.
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- Global shares, oil dip as US sanctions on Iran loom freemalaysiatoday.com
