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Global markets brace for effects of Israel-Palestine war
06:28
War on Gaza
Global markets brace for effects of Israel-Palestine war
It's been 50 years since the beginning of the 1973 war involving Israel Egypt and Syria. The conflict, known as the War of October, lasted only three weeks but sparked an oil crisis that dragged major economies around the world into years of stagflation. Today, investors are worried that the fighting in the Middle East might disrupt the global economy again and even see it tip into recession. The concern comes as Israel intensifies its bombardment of the Gaza Strip after declaring war on Hamas. It follows Saturday's unprecedented attacks on both sides of the border between Gaza and Israel after Hamas launched thousands of rockets and sent hundreds of fighters into Israeli territory.
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