Markets whipsaw, oil prices rise as Israel declares war on Hamas

News Snapshot:

The surprise attack on Israel by Hamas over the weekend and the resulting declaration of war by Israeli Prime Minister Benjamin Netanyahu are weighing on financial markets and unsettling commodity prices as the global economy braces for military and diplomatic fallout. Stocks of energy and defense companies rose sharply Monday while shares of airlines and resorts tumbled as investors weighed reports of escalating military action. Israeli Defense Minister Yoav Gallant announced on Monday a “complete siege” of the already blockaded Gaza Strip, pledging to block access to food, water, electricity or fuel for the 2 million residents living within. Many...