“We are likely to see significant increases in volatility and markets that really are whipped back and forth dramatically,” Roach told CNBC’s…
Markets are in danger of being"whipsawed" by the combination of regional conflict in the Middle East and rising unemployment in the United States, says Stephen Roach, senior fellow at Yale Law School's Paul Tsai China Center.
"The markets really will not know where to turn," Roach said, adding that conflicts in the Middle East are adding to inflationary risks at a time when global central banks are starting to ease monetary policy. "We are likely to see significant increases in volatility and markets that really are whipped back and forth dramatically," Roach told CNBC's"The Israel Defense Forces said its troops had started launching new strikes against Hezbollah targets in Lebanon in response to Iran's missile attack Tuesday night.
Iran is the third-largest producer among the Organization of the Petroleum Exporting Countries, pumping out nearly four million barrels of oil per day, according to the Energy Information Administration.The Israeli response to Iran's attacks"might throw the Fed's 25-basis-point rate cut off track," said Kelvin Tay, regional chief investment officer at UBS Global Wealth Management.
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