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Iran launches attacks on the US, how will this affect ASX shares?

Tristan Harrison
Naval war ship

In an escalation of events, Iran has launched rocket talks against US bases in the Middle East in response to the US killing Qasem Soleimani.

According to the Pentagon, at least two US bases were targeted by missiles launched from Iran.

As you can imagine, this has caused a bit of upset for the ASX share market. At the time of writing:

The Commonwealth Bank of Australia (ASX: CBA) share price is down more than 1%.

The Australia and New Zealand Banking Group (ASX: ANZ) share price is down 1.4%.

The Afterpay Touch Group Ltd (ASX: APT) share price is down 3.5%.  

The WiseTech Global Ltd (ASX: WTC) share price is down 4.2%.

But, not every share is suffering. Oil could spike if the Middle East is about to go through more troubles, that’s why the Woodside Petroleum Limited (ASX: WPL) share price is up 1.6%.

Gold miners are having an even better time because gold is a source of safety.

The St Barbara Ltd (ASX: SBM) share price is up 6%.

The Regis Resources Limited (ASX: RRL) share price is up 5.3%.

The Silver Lake Resources Limited. (ASX: SLR) share price is up 5%.

Donald Trump is not known for taking the subtle, gentle option when presented with different courses of action, so there could be more reaction to come.

Foolish takeaway

Who knows what’s going to happen next? No-one knows. But the world has been through countless problems in the Middle East and come through other side. I’m not going to sell any of my shares. If this escalates further it could lead to some lower share prices, but hopefully it doesn’t get any worse than today’s actions because more deaths and war isn’t want anyone wants.

The post Iran launches attacks on the US, how will this affect ASX shares? appeared first on Motley Fool Australia.

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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia owns shares of WiseTech Global. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020