Stocks sink, oil leaps back towards $110 as Trump vows to keep hitting Iran

Oil prices surged and global equity and bond markets recoiled again on Thursday after US President Donald Trump dashed hopes of a swift resolution to the Middle East war. Brent crude jumped more than 7% to trade near $108 a barrel after Trump said in a prime-time address that the US would hit Iran "extremely hard" in the coming weeks and "bring them back to the Stone Ages where they belong".