US stocks bounce back from the abyss after missile attack on US forces
Iran has retailiated against the U.S. following the killing of General Soleimani
U.S. stock futures came back from a drastic plunge Wednesday morning, with Dow futures bouncing back from a 400+ point drop. Investors sold stocks after American forces were fired upon in Iraq.
U.S. equity futures are indicating a slight gain when trading begins on Wall Street..
Missiles were lobbed at multiple locations across Iraq, a senior U.S. military source in the country told Fox News' Jennifer Griffin:
"Under missile attack from Iran. These are either cruise missiles or short-range ballistic missiles. All over the country." The missiles struck near Al Assad Air Base in Anbar, among other locations.
In commodities, Brent, the world benchmark, breached the $70 per barrel level, but has trimmed gains to $0.54, or 0.8 percent to $68.81.
West Texas Intermediate, the U.S. benchmark, crossed $64 per barrel and has pared the rise to $0.28, or 0.5 percent to $62.99.
In Europe, London's FTSE fell 0.1 percent, Germany's DAX was lower by 0.2 percent and France's CAC slipped less than 0.1 percent.
in Asian markets, Japan's Nikkei closed down 1.6 percent, Hong Kong's Hang Seng fell 0.8 percent and China's Shanghai Composite dropped 1.2 percent.
The retaliation comes after the U.S. killed Iranian General Qassem Soleimani who was involved in terrorist activities throughout the Middle East. He was reportedly orchestrating an attack against Americans.
Late Tuesday President Trump tweeted on the situation, saying "All is well! Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now. So far, so good! We have the most powerful and well equipped military anywhere in the world, by far! I will be making a statement tomorrow morning."
Ahead of the tweet White House press secretary Stephanie Grisham responded in a statement:
"We are aware of the reports of attacks on US facilities in Iraq. The President has been briefed and is monitoring the situation closely and consulting with his national security team.
Additionally, the State Department confirmed to Fox News that officials are "working on initial battle damage assessments" but early reports indicated there were few if any casualties.
Losses late Tuesday in the U.S. followed a down day on Wall Street with the Dow Jones Industrial Average, the S&P 500 and Nasdaq Composite all losing ground Tuesday in part due to rising tensions in the Middle East.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38223.1 | +137.30 | +0.36% |
| SP500 | S&P 500 | 5101.06 | +52.64 | +1.04% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15919.271189 | +307.51 | +1.97% |
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FOX Business's Ken Martin contributed to this article.