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Syria Tensions Push Stock Prices Down; Oil Prices Up

  • VOA News

Traders gather at a post on the floor of the New York Stock Exchange, Aug. 27, 2013.

Traders gather at a post on the floor of the New York Stock Exchange, Aug. 27, 2013.

Prices fell on key stock markets in Asia, Europe and the United States following reports that the United States and other nations are considering military action against Syria.

In Tuesday's trading, key stock indexes in France and Germany lost around two percent, New York's S&P 500 was down nine tenths of a percent, while key Asian markets were down somewhat less at the close.

Oil prices rose, as investors worried that possible violence in the Middle East could harm oil production or shipments. Crude oil future prices rose two percent.

Gold prices also rose, as traders sought an investment that has traditionally held its value in times of crisis. Gold prices advanced more than $30 to go above $1400 an ounce.
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