Bonds & Stocks
Stocks fell and the dollar climbed as military strikes intensified across the Middle East. The S&P 500 dropped 1.1%, following losses in Europe and Asia. The yield on 10-year Treasuries advanced seven basis points to 4.01%.
Economy
Oil surged the most in four years as the first impacts of the war in the Middle East began to be felt. Brent futures traded about 9% higher after topping $80 a barrel.
World
US President Donald Trump said the bombing campaign against Iran could last for weeks and called on the nation’s leaders to capitulate, while the Islamic Republic’s security chief ruled out negotiations.