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Stocks spooked, safe assets jump after U.S. missile strike on Syria

April 7, 2017 6:19 AM
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Stocks spooked, safe assets jump after U.S. missile strike on Syria

SYDNEY Bonds, gold and the yen jumped in Asia on Friday, while stocks retreated, as investors fled to safe assets after the United States launched cruise missiles against an airbase in Syria, raising the risk of confrontation with Russia and Iran.

The U.S. dollar dropped as much as 0.6 percent, while gold and oil prices rallied hard, though the early market panic ebbed when a U.S. official called the attack a "one-off", with no plans for escalation.

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