Markets spooked after Israel launches retaliatory strike on Iran

"This is in no one's interests. We urge all parties to exercise restraint and step back to avoid a further spiral of violence," acting Foreign Minister Katy Gallagher said. Tension is high in the Middle East over possible Israeli retaliation after Iran fired more than 300 armed drones and missiles at Israel last weekend, the first time Tehran has targeted the country directly from its own soil. US President Joe Biden had counselled Israel against responding to that attack, saying the fact so many Iranian drones and missiles had been intercepted was a major victory for Israel. The Australian sharemarket…