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

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/2024-04-19/asx-markets-business-live-news-april19-2024/103743698

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.

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