Middle East Tensions Shake Asian Markets: Powell Hints at Rate Cuts Amid Inflation Dip

Asian markets alert due to increasing tension in Middle East, tension between Israel and Hezbollah increased yesterday, both launched missile attacks on each other, both groups are not in favor of escalating the war further, Powell gave cut in interest rates in Jackson Hole conference. Indications, inflation seems to be falling towards the target of 2%, Fed Chairman's statement led to great rally in US, Dow jumped 460 points, Dow is now just 170 points away from record high, S&P 500 up 1% and Nasdaq up 1.5%. Closed, great action in smallcap stocks, Russell 2000 jumped 3.2%.