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- Iran fires missiles at Israel in new escalation
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- Ireland unveils bumper budget with Apple tax cash boost
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- Stock markets slump, oil jumps on Middle East concerns
- Slot calls for Liverpool to show they missed Champions League stage
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- French PM vows more taxes and spending cuts ahead of budget fight
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- Pohang thump Shanghai Port as Gwangju go top in AFC Champions League
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- Israel says ground forces raid south Lebanon, escalating conflict
- Italians recover from nosedive to keep Louis Vuitton Cup final tied
- European airlines extend suspension of Middle East flights
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- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
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Stock markets slump, oil jumps on Middle East concerns
Global markets sank and oil soared Tuesday on fears of escalating conflict in the Middle East.
US and European stocks turned sharply lower after US officials said Iran was preparing an attack against Israel.
"The United States has indications that Iran is preparing to imminently launch a ballistic missile attack against Israel," a senior White House official told AFP on condition of anonymity.
The Israeli military later said it had not detected the same threat "for now".
The headlines caused a sharp turnaround on global markets. Gold jumped around one percent to a new record high just above $2,600 an ounce because of the tensions.
Earlier, European shares opened higher after the eurozone's annual inflation rate slowed. US shares began the day little changed as a recent rally ran out of steam ahead of a slew of economic reports this week that should shine greater light on the direction of interest rates.
The mood also soured as US workers went on strike at East and Gulf coast ports, which could cost the economy billions of dollars a day and stoke inflation.
"Participants cast a wary eye toward escalating Middle East tensions and a US port strike while awaiting the first batch of this week's pivotal US jobs and manufacturing data," said Joe Mazzola, a strategist at Charles Schwab.
Official data showed that eurozone inflation fell below the European Central Bank's two-percent target in September for the first time since 2021.
The fall "opens room for the ECB to cut rates again on October 17," said GianLuigi Mandruzzato, an economist at EFG Asset Management.
Paris lagged behind other European bourses as new Prime Minister Michel Barnier presented the policies of his fragile minority government to parliament, including spending cuts and higher taxes for companies.
Barnier said it would take two years longer than previously planned for France to reduce its deficit to the EU limit of three percent of national output as the country faces a massive debt pile.
London was the only major market to break the trend, rising on the back of energy companies.
There are several US economic reports expected this week, with by far the most important for the markets being Friday's monthly jobs report.
The Dow and the wider S&P 500 finished at fresh record-highs Monday, making them susceptible to profit taking.
In Asia, Hong Kong and mainland Chinese bourses closed for a holiday after thundering higher over the past week on China's new economic stimulus.
Tokyo closed up almost two percent, paring some of Monday's nearly five-percent drop, as the yen pulled back against the dollar, giving Japanese exporters some much needed relief.
Data showing Japanese business confidence remained positive in the third quarter also provided support.
Oil prices initially slid on expectations of increasing supply after Libya appointed a new central bank governor Monday, a key step to resolving a dispute between the country's rival administrations and allow oil output to resume.
Oil prices shot higher after the reports of a potential Iranian missile strike on Israel.
- Key figures around 1540 GMT -
New York - Dow: DOWN 0.4 percent at 42,162.07
New York - S&P 500: DOWN 1.0 percent at 5,705.53
New York - Nasdaq: DOWN 1.8 percent at 17,865.83
London - FTSE 100: UP 0.5 percent at 8,276.85 points (close)
Paris - CAC 40: DOWN 0.8 percent at 7,574.07 (close)
Frankfurt - DAX: DOWN 0.6 percent at 19,213.14 (close)
Tokyo - Nikkei 225: UP 1.9 percent at 38,651.97 (close)
Hong Kong - Hang Seng Index: Closed for a holiday
Shanghai - Composite: Closed for a holiday
Euro/dollar: DOWN at $1.1088 from $1.1137 on Monday
Pound/dollar: UP at $1.3278 from $1.3374
Euro/pound: UP at 83.28 pence from 83.25 pence
Dollar/yen: UP at 143.91 yen from 143.63 yen
West Texas Intermediate: UP 3.5 percent at $70.58 per barrel
Brent North Sea Crude: UP 3.5 percent at $74.18 per barrel
J.Oliveira--AMWN