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Markets tumble on reports of strike on Iranian territory | The Business | ABC News

The tit for tat confrontation between Israel and Iran has escalated dramatically sending financial markets into a tailspin. Brent crude spiked 4 per cent to more than $US90 a barrel. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-04-1... The gold price leapt to a new record to more than $US 2,400 an ounce and the Australian dollar wiped off a cent within minutes to around 63.5 US cents. Leading independent economist Chris Richardson says for markets and global economies, the flashpoint in the Middle East remains the number one concern. ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: https://ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 Like ABC News on Facebook:   / abcnews.au   Follow ABC News on Instagram:   / abcnews_au   Follow ABC News on Twitter:   / abcnews   Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia