European Markets Slide after US Fires Missiles at Targets in Syria

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3 Things you need to know about today’s Markets:

EU Markets Slide

Oil and Gold Rally

Snapchat announces new App

 

 

1. European Markets Slide after US Fires Missiles at Targets in Syria…

Stock Markets in Europe started the day in negative territory on Friday morning, after the U.S. fired cruise missiles against an air base in Syria, according to CNBC. Specifically, no less than 59 tomahawks were fired against an airfield near Homs. The attack raised concerns of an escalating conflict in the region and caused investors to opt for safe-haven bonds during Asian trade, sending the yen higher and the dollar lower! Amid all the geopolitical volatility, all major European indices plummeted, while gold futures skyrocketed along Brent and Crude Oil WTI.

 

2. Oil Jumps along Safe-Haven Assets as U.S. Missiles Strike Syria

Oil prices skyrocketed as the dollar weakened after the U.S. fired dozens of cruise missiles into Syria, according to Bloomberg. The Japanese yen and gold also jumped in early trade on Friday, while stocks slipped. Investors turned to safe-haven assets after the U.S. raised the risk of confrontation with Syria-supporters, Russia and Iran.

U.S. President Donald Trump ordered the strikes late on Thursday. The missiles were fired against a Syrian air base controlled by President Bashar al-Assad’s forces in retaliation for a chemical attack that killed at least 70 people, in Syria, on Tuesday. It should be noted, that Trump took the toughest direct U.S. action yet in Syria’s 6-year-old civil war, spreading chaos in the Financial Markets.

 

3. Snapchat Announces Plans to Build New App Install Ad System

Snap Inc (NYSE:SNAP) has announced that it plans to add a new app-install ad system, in an effort to compete with Facebook, according to Stock News. App install ads are a fast-growing market that refers to the ability of users of a certain app like Snapchat to be presenting targeted ads which will prompt users to install other outside apps. As Business Insider reports, this relatively new type of ad is increasingly popular and the new addition is expected to give Snap Inc. a competitive advantage over its rivals.

 

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