LONDON ¨C From bonds to bitcoin, Monday¡¯s erratic price moves showed investors struggling to decide if the Middle East conflict is a fringe risk around a power struggle in Iran or a protracted war with ramifications for global trade and inflation.
U.S. President Donald Trump fueled part of the confusion with remarks suggesting the U.S. and Israeli strikes on Iran over the weekend that killed Supreme Leader Ayatollah Ali Khamenei could go on for weeks.
The most telling market reaction was in oil, where prices spiked and then fell sharply. Bitcoin rallied, stock markets across Europe fell, but U.S. indexes were flat to higher, while government bond yields rose everywhere.
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