US Stocks, Bonds Plunge Amid Escalating Iran War Fears; Oil Surges, Gold Dips

• US stocks and bonds fell sharply as the Iran war showed no signs of easing, sparking fresh losses across markets.
• Middle East turmoil fueled worries about elevated energy costs impacting inflation and economic growth.
• S&P 500 dropped 1%, heading for its longest weekly slide in a year; Treasuries rout deepened with 50% chance of Fed hike by October.
• Brent crude topped $109, up 5% this week, while gold faced its biggest weekly loss since 1983.
• Markets rocked by Persian Gulf supply disruption; US considering taking over Kharg Island, Iran's major oil-export site.