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Airlines and some hotel stocks fell after the U.S.-Israeli attacks on Iran and subsequent retaliation strikes.
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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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The strikes come at a precarious time for stocks, forcing investors to weigh the fallout of a potential prolonged disruption to oil supplies and logistics.
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Gold and the US dollar jump but government bonds fall amid fears of an inflation shock
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The U.S. and Israeli attacks on Iran rattled world markets early Monday, with U.S. futures falling more than 1% and oil prices soaring.
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