Oil prices leap and stocks fall amid US-Iran strikes over Hormuz

The Guardian is reporting that oil prices jumped nearly five percent following fresh U.S. attacks against Iran over the Strait of Hormuz. Brent crude rose to seventy-nine point fifty-nine dollars a barrel. Asian markets reacted sharply — South Korea's Kospi fell eight percent, while Japan's Nikkei and China's Shanghai Composite each declined two percent. Chipmakers including SK Hynix were among the hardest hit.

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