GLOBAL MARKETS-Stocks slide, oil prices jump after Yemen air strikes

March 26, 2015 8:42 PM

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* Wall St narrows losses to close mildly down * Oil rises on fears of Middle East supply disruption over Yemen * Gold tops $1,200 an ounce By Michael Connor NEW YORK, March 26 (Reuters) - Oil prices jumped 5 percent and stock markets worldwide slumped on Thursday after Saudi Arabia and allies carried out air strikes in Yemen, which fueled worries Middle East that energy shipments may be put at risk.

Wall Street steadied in late trading, narrowing losses that had been as much as 1 percent to close just modestly lower with support from economic data and corporate earnings reports. "The air strikes in Yemen have really created a risk-off mood," said Rabobank strategist Philip Marey. Brent oil clos...

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