HSBC CEO warns U.S.-Israeli war on Iran is damaging global confidence

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HSBC Holdings CEO Georges Elhedery said the conflict in the Middle East and broader "uncertainties" are beginning to dent client confidence as investors navigate an increasingly volatile global landscape.

"We're saddened and concerned with what's happening in the Middle East, and we're concerned not just with what's happening, but also with how long this will take," Elhedery said in an interview at an HSBC conference in Hong Kong. "Unfortunately, some of these uncertainties have initially started to weigh on general confidence," he said.

"We worry that the continuation of this conflict will have that impact globally way beyond the Middle East," he said, seeing impact on not just in the price of goods, oil and refined products but also on fertilizers and metals.