00:01Global markets have been rattled after President Donald Trump announced a U.S. naval blockade
00:07of the Strait of Hormuz, escalating tensions following failed peace talks with Iran.
00:12U.S. stock features dropped sharply in response with the Dow Jones, S&P and Nasdaq, all falling
00:20by more than 1%, reflecting investor anxiety over a potential prolonged conflict. At the
00:26same time, gold prices also declined, with features on the New York mercantile exchange
00:31slipping below $4,700 an ounce, marking losses of more than 2% at one stage. All markets,
00:39however, surged dramatically amid fears of supply disruptions in one of the world's most critical
00:44energy corridors. West Texas immediate jump to over 8% to above $104 a barrel, while Brent
00:52crude rose more than 7% on the ice features Europe. Analysts say the breakdown in talks
00:58between the U.S. and Iran is fueling concerns that the conflict could drag on, bushing oil
01:03prices even higher and adding further strain to an already fragile global economy.
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