Markets brace for uncertainty after U.S. and Israel strike Iran

Since the strikes began:

• Oil prices have climbed while stocks have fallen. Brent crude oil, the global energy benchmark, rose about 8% earlier today.
• Investors seeking safety have fueled a rally in the U.S. dollar and Swiss franc.
• Yields across the U.S. Treasury yield curve advanced by six to seven basis points in early trading today, as the market anticipates potential inflation should high oil prices persist.
• Safe-haven assets, such as gold, have attracted attention as investors look for stability.