Syrian Crisis Drives Up Oil and Hits Global Stock Markets

Uncertainty about the possibility of Western military action against the Syrian government hit shares worldwide on Tuesday, sent many emerging market currencies to record lows and boosted assets such as yen and gold.

U.S. stock index futures and a rise in U.S. government debt prices signaled that the flight to safety could gather momentum when Wall Street opened.

Dealers said the moves so far, spurred by reports from Washington that a strike may be imminent, were not yet on a huge scale as investors are waiting to see how the situation unfolds.

via Reuters

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