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Saturday, April 08, 2017

Global Markets collapsed after Trump's attack over Syria

By on Saturday, April 08, 2017
edited by Kshitiz Kant and Priya Bhatt
After the chemical attack in the burning Syria under civil war, the American president, Donald trump spent 4 billion rupees in the air strike of a few minutes.
Many bases of Syrian government were targeted by 59 cruise tomahawk missiles which have the value of 3 billion and 54 crore rupees.
While Syria on Friday condemned the American strike as “a disgraceful act,” news agencies reported. A statement from Assad’s office said the cruise missile strike was the result of “a false propaganda campaign.” Syria has denied that it possesses chemical weapons.
According to Market watch website, the cost price of a tomahawk missile is 10 lakh dollars means 6.5 crore in Indian currencies, so the cost price of 59 missiles are 3 billions 54 crore.
The missiles were being fired over target from USS Porter and USS Ross bases. The experts said America has lost its nearly 4 billion Rs in firing so many missiles. It was a big decision of American president after taking charge.
The global market declined as the news broke of American attack over Syria. the worldwide stocks, commodities and currency market swiftly slumped. The returning of global markets to a normal state will depend over the international community’s future reaction.
Asia pacific index 0.2%; Tokkyo Bazaar, 0.5%;Hong Kong; Australia; Taiwan; Indonesia; and markets in Asia were seen slumped swiftly after the attack on Syria.
Heavy price rise in the stock of rethian, a builder company of tomahawk missiles, was seen after the attack.
The stock price of Rethian was seen increased more than 1 percent in a day. America’s budget in financial year 2017 has the provision of buying 4000 tomahawk missiles.
Moreover, America has planned of buying this missile more in numbers during years 2018 after this attack.
The demand of gold and silver after the surfacing of America’s attack over Syria soared, which resulted of price rising in global market.
 0.99% in gold and .93% in silver price increased in global market. Actually, the investors, seeing the heavy fall of market, to safe themselves from the adverse of declining began to consider worthwhile money into gold and silver, which did price rise.   
A big boom came in the petroleum products after all countries reaction -- Russia, Britain, France, Israel, Saudi Arab and China -- over the Syrian attack. The crude oil price rise in global market was seen increase more than 1.2 % in price.

The price rise in global market affects over India too. The burden grows over the economy of crude oil importing countries.  The least cost price 33.62 dollars have rose up to maximum 140 dollars. The recession in global market will affect India. Moreover, the Indian economy will have bear more burden if the petroleum prices are raised, which will affect in development rate.

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