drone strike last week meanwhile stocks in asia were sliding including on the dubai financial market which was down more than 3 percent closing wall street also saw prices fall during early trading as the angry rhetoric between the u.s. and iran continues. let's bring in michael sheehan is the chief market analyst at c.m.c. markets in london michael marcus was spooked today across asia and europe is that really justified. well certainly i think if you look at the headlines yes there is some justification for the selloff that we've seen in the past couple of days but i would argue against it being particularly nuanced in terms of the fact that ultimately what has really changed from the events of last week we've seen a spike in crude prices we've seen a spike higher in gold prices and equity markets are coming off 2 to 3 year highs so i think there was some profit taking probably likely to happen in the event we've had some headline risk and investors decided to take some profits on the back of the. still big sell off there which sectors will be hardest hit by by this crisis well we s

at in saudi arabia as the market opens, and for dubai, we are looking at cid, which finished its acquisition of another bank earlier this month so we are looking at how financialsoing to be when it comes to it. yousef: thank you very much for that. the equities round up. coming up on the program, we will stay with some of the news. tesla reports earnings later on. will that be able to repeat last quarters bumper performance? we will take a closer look, next. this is bloomberg. ♪ yousef: 3:53 in sydney. a shot of the opera house area. 0.6 770. we are up about .1%. a little bit of risk on definitely coming back into some of these traits, but also, we had some important cpi figures out for australia. the fourth quarter getting trimmed. you have cpi rising 1.6% year on year, beating estimates for 1.5% gain. that pretty much dampened the case for further policy easing by the reserve bank of australia. let's talk about tesla because the company reports earnings later. the electric carmakers shares have been on an unprecedented dissent since elon musk crammed his release with positive updates. >> revisions, revisions, revisions. analysts spent the first part of 2020 r