US strikes Syrian targets, Asian stocks feel the heat

Asian stocks is a sea of red this Friday morning as investors move out of risk assets and into the safe havens following reports of US missile attack in Syria.

At the time of writing, Japan’s Nikkei index was down 83 points. Stocks in Australia fell 15 points, while those in South Korea shed 10 points. Shanghai Composite fell 5 points.

President Trump said the missile strike in Syria was in response to the Syrian government’s chemical weapons attack this week that killed more than 80 civilians.

US futures drop

Dow futures fell 100 points, while S&P 500 futures dropped 12 points. In Europe, the DAX futures and FTSE 100 futures fell 67 points and 27 points, respectively.

The missile strike has shifted focus away from Trump-Xi meeting to the geopolitical tensions. European stocks are likely to open on a weak note as suggested by the futures market, although upbeat US wage growth data may lift the risk sentiment later in the day.