Oil Surges, Stocks Plunge as Fears of Prolonged Iran War Hit Markets

U.S. stocks plunged and energy prices soared Tuesday as fears spread through global markets that the Iran war& may bring prolonged disruption.

The reaction came as President Donald Trump indicated the U.S.-Israeli operation may last weeks. Iran's retaliatory attacks across the Middle East have hit U.S. embassies and Gulf oil facilities and brought shipping through the Strait of Hormuz, a key waterway for global fuel supplies, to a near standstill.

The conflict has also caused huge travel disruptions, with tens of thousands of people and air cargo stranded in popular destinations like Dubai that have been targeted in strikes by Tehran.

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