Birds fly near a boat in the Strait of Hormuz amid the US-Israeli conflict with Iran. Photo: Reuters/Amr Alfiky
Fears that war in the Middle East will hike energy costs and stoke inflation sent bonds, including US government debt, lower on Monday – driving up borrowing costs.
The dollar rose and gold touched an all-time high of $5,400 an ounce, as investors looked for safe havens.
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