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Oil surges and global stocks sink on fears Trump's Iran strike will be 'deemed a declaration of war'

Oil surges and global stocks sink on fears Trump's Iran strike will be 'deemed a declaration of war'
Markets Insider



Oil spiked, global stocks fell and gold rallied after the US confirmed an air strike that killed a top Iranian military chief.




"It's never likely to be good news for the markets when 'World War III' is trending on Twitter," says one analyst.




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A US strike on a top military leader in Iran ignited fears of spiraling military conflict, leading oil to surge about 4%.
A New Year market rally was abruptly halted by the sudden risk-off sentiment.
The airstrike killed Iran's elite Quds force commander, Maj. Gen. Qassem Soleimani, the US confirmed on Thursday night.
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