Stocks Tumble, Bond Yields Jump as Iran War Fuels Central Bank Reassessment

GLOBAL MARKET - NEW YORK. Global shares slumped for a third straight session and were poised for a third consecutive weekly decline on Friday, while bond yields climbed on fears the Iran war would keep upward pressure on oil prices and spark inflation.

Iran attacked an oil refinery in Kuwait on Friday and Israel killed a spokesman of Iran's Revolutionary Guards, while three U.S. officials told Reuters that thousands of additional U.S. troops will be deployed to the Middle East.