MARKETS: Major stock markets are falling after U.S. forces in Iraq killed a top Iranian general. The drop comes after a bullish start to the New Year.
Stock indexes in London, Frankfurt and Paris fell, as did Hong Kong's earlier. Shanghai was little-changed and Japanese markets were closed.
There was no immediate indication how Iran would respond, but Tehran has seized oil tankers in the past and shot down a U.S. military drone. Benchmark U.S. crude climbed $2.19 to $63.37 per barrel in electronic trading on the New York Mercantile Exchange. In Asia, Hong Kong's Hang Seng lost 0.3% to 28,451.50. The Shanghai Composite Index was off 1.5 points at 3,083.79. India's Sensex lost 0.5% to 41,413.36 and Singapore also declined.The price of gold, which investors buy in times of uncertainty as a safe haven of value, was up 1.4% at $1,548.80 per ounce.
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