UPDATED 7:00 am ET
STOCKS – European stocks dropped a third day, with the German benchmark gauge sliding more than 10 percent from its high, as President Obama said he would allow U.S. air strikes against militants in Iraq. U.S. stock-index futures and Asian shares also fell.
BONDS – Treasuries rallied, pushing benchmark yields to the lowest level in more than a year, as investors sought the safest assets after President Barack Obama authorized U.S. air strikes in Iraq.
COMMODITIES – Gold advanced to a three-week high as unrest in the Middle East spurred demand for a haven.Crude oil rose as potential airstrikes in parts of Iraq, OPEC’s second-largest producer, while Chevron Corp. said it was withdrawing some workers.
CURRENCIES – The yen and Swiss franc climbed after U.S. President Barack Obama authorized targeted air strikes in Iraq, adding to the allure of haven assets amid conflicts in Ukraine and the Middle East.
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ECONOMIC DATA – CAD Unemployment Rate and USD Prelim Nonfarm Productivity q/q due at 8:30 ET.
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