MARKETS: Global stock markets are falling while oil and gold prices are rising as tensions escalate between the U.S. and Iran.
ian general last week and prompted threats of retaliation from Iran. That has rattled financial markets around the world as investors remain uncertain about how Iran will respond.Banks were also among the biggest losers in the early going as bond yields slipped. Lower yields hurt their ability to charge more lucrative interest on mortgages and other loans. JPMorgan Chase fell 1.2%.
Investors mostly shifted money into safer holdings. Utilities and real estate companies rose. Gold prices climbed 1.7% and reached a seven-year high. The yield on the 10-year Treasury fell to 1.77% from 1.78% late Friday. WEEK AHEAD: The first full week of the new year could help give investors a clearer picture of the economy at the close of 2019. On Tuesday, the Institute for Supply Management will release its December report on the U.S. service sector, which makes up the bulk of the economy.
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