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Global oil prices are in the high $70s as traffic through Strait of Hormuz comes to a halt. Some analysts have warned they could top $100 a barrel if the stoppage is prolonged.
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Live updates: U.S. military confirms 4 troops killed in Iran war; Kuwait downs 3 U.S. jets in "friendly fire" CBS NewsStakes Quickly Rise for U.S. in Iran War, With 3 Service Members Killed The New York Times3 U.S. jets downed by friendly fire over Kuwait AxiosU.S. troops killed amid Iranian counterattack, fueling air defense fears The Washington Post
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Gold and the US dollar jump but government bonds fall amid fears of an inflation shock
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