London, United Kingdom—Oil prices briefly surged and stock markets slid Friday on reports Israel had carried out retaliatory strikes against Iran, boosting investments deemed safer such as gold.
“US markets will not have the opportunity to react directly to the developments until later, but the escalation will put pressure on the main indices, which were already lining up for a weekly drop.” Fears of a major regional spillover from the war in Gaza between Israel and Iran-backed Palestinian militants have since soared. Appeals by world leaders for de-escalation again echoed on Friday.
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