Israel's strike on Iran sparked turmoil in financial markets ... Oil spikes The price of crude oil surged as market participants braced for potential supply disruptions in the Middle East.

The Israeli shekel suffered widespread selling on Friday along with some government bonds and equity markets across the Middle East after Israel launched missile strikes against Iran.

Welcome to The Hill’s Business & Economy newsletter{beacon} Business & Economy Business & Economy   The Big Story Stocks sink as Israel, Iran fire at each other

U.S. stock futures experienced significant declines following Israel’s airstrike on Iran, with S&P 500 futures dropping approximately 1.6%.

The ripple effect of the back-to-back strikes between Israel and Iran were seen in the U.S. stock market on Friday. CBS News MoneyWatch correspondent Kelly O'Grady has more.

The death toll grew Sunday as Israel and Iran exchanged missile attacks for a third consecutive day, with Israel warning that worse is to come. Israel targeted Iran’s Defense Ministry headquarters in Tehran and sites it alleged were associated with Iran’s nuclear program,

Iran and Israel continued on Sunday their aerial attacks, which began Friday with a series of Israeli strikes on Iran.