U.S.-Iran tensions roil world markets as gold hits seven-year high, oil spikes

LONDON – Global stock markets took another hit Monday while oil and gold prices surged in response to the escalating tensions in the Middle East following the U.S. killing of Iran's top general. The death of Qassem Soleimani in a U.S. drone strike has heightened geopolitical risks for financial markets, including concerns about potential disruptions to the global oil supply. The U.S. has reinforced its presence in the Middle East in preparation for reprisals from Iran, which has vowed revenge. Iraq, meanwhile, has called for the expulsion of American troops from its territory. The moves in financial markets illustrated the concerns of investors.