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Investors reduced risks as they digested the news of the retaliatory attack

Israel’s retaliatory strike on Iran roiled global markets on 19 April, encouraging traders to dump risky assets and buy safe-haven currencies.

Stock markets across Asia dropped after early reports of explosions in Iran, which a person briefed on the matter later confirmed came after an Israeli strike. Japan’s Nikkei 225 led losses with a 2.4% decline by midday, but the fall was widespread: Major stock indexes in Hong Kong, Korea and Taiwan were also down more than 1%. US futures fell.

Stocks slide, oil jumps after Israel strike on Iran

Weilun Soon, The Wall Street Journal

Dave Sebastian, The Wall Street Journal

Commodities and Futures

Currencies

Middle East

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Alain Courbebaisse will take on role in the new year

Simpson Thacher hires Sidley Austin finance duo in London

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Leveraged finance lawyers are in high demand in London

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Find out who is on the move in the City and beyond this week

The Fed’s signal that it will cut rates less than expected complicates efforts by other central banks to manage their economies.

Bank of England Keeps Rates Steady After Fed Move

Palliser Capital doubled down on its call for a review of Rio Tinto’s dual listing in London and Sydney, adding that it now has the backing of more than 100 shareholders.

Activist Investor Widens Call for Review of Rio Tinto’s Dual-Listing

Activist Investor Palliser Capital Widens Call for Review of Rio Tinto’s Dual-Listing Status

In a 12-hour social-media barrage, the world’s richest man led a rebellion against a bill aimed at keeping the government funded.

Musk Draws First Blood With Spending Bill Bombshell 

Aides kept meetings short and controlled access, top advisers acted as go-betweens and public interactions became more scripted. The administration denied Biden has declined.

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Indexes were lower in Europe’s morning trade, as markets digested hawkish comments from the Fed’s Powell which left investors blindsided, Richard Hunter, Head of Markets at Interactive Investor, said.

European Indexes Fall on Slower U.S. Rate Cut Projections

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