Sanctions by the US and the EU on Tehran were lifted on Saturday and this may prove catastrophic for the stock markets. Oil prices have dropped below the $30 mark and will likely go down even more because Iran now has access to the world’s markets. A greater supply will likely hurt the energy markets. It is expected that Iran will export between 600,000 and 1 million barrels per day.
The Dow Jones Index closed below the 16,000 mark on Friday after dropping 391 points. The tension is high among investors and the fear of lower oil prices only amplifies this fear. The US stock futures are down triple digits for the Nasdaq and the Dow Jones index which could signify another drop in world markets on Monday.
The Asian markets will also feel the pressure of the lifting of sanctions on Iran and may cause even greater bearish market activities.
This writer will keep an eye on these markets to see if the downward trend will continue throughout the coming week. Below is the latest interview with Gerald Celente regarding the coming collapse in 2016.