European equities and US futures dropped as traders reacted to the oil spike by selling riskier assets and fleeing to safety. Gold surged.
European equities and US futures plunged on Monday after a drone attack on a Saudi Arabian oil facility slashed global output by nearly 6%. Traders dropped stocks in favor of gold and other haven assets after Brent crude spiked as much as 20% — its biggest intraday move on record, Bloomberg said. "The genie is out of the bottle in terms of risk premium," one analyst said. View Markets Insider's homepage for more stories.
European equities and US futures plunged on Monday after a drone attack on a Saudi Arabian oil facility slashed global output by nearly 6%. Traders dropped stocks in favor of gold and other haven assets after Brent crude spiked as much as 20% — its biggest intraday move on record, Bloomberg said. "The genie is out of the bottle in terms of risk premium," one analyst said. View Markets Insider's homepage for more stories.
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