GLOBAL MARKETS-Oil Prices Surge as Iran Escalates Tanker Attacks, Shares Fall

GLOBAL MARKET - BOSTON. Global shares fell on Thursday as attacks on oil tankers in the Gulf and warnings from Iran shattered prospects of quick de-escalation in the Middle East conflict, pushing oil prices to around $100 a barrel and stoking inflation concerns.

Wall Street's stock indexes slumped, dragged down by rising oil prices and concerns about the private credit market. The Dow Jones Industrial Average and the S&P 500 dropped about 1.5%, and the Nasdaq Composite lost 1.8%. The STOXX 600 pan-European equity benchmark slipped 0.6%, while the MSCI All-World index fell 1.5%.