finance-economy-geopolitics7.17 min read "Global Stock Selloff Amid Iran-Israel Tensions; China's Strong GDP Growth"
Asia-Pacific markets sold off amid Iran-Israel tensions, with China's GDP beating expectations at 5.3% growth in the first quarter. India's banking sector is seen as a significant driver of growth, while China's industrial output and retail sales data missed expectations. The Japanese yen fell to its weakest level since June 1990, and oil prices shrugged off Iran's attack on Israel. The Nasdaq Composite slid below its 50-day moving average for the first time since November, and a British investment bank predicts $100 oil and a potential 10% stock market correction due to Middle East turmoil. Retail sales data in the US came in above economists' forecast, indicating continued consumption despite higher prices.
1 year ago•Source: CNBC
