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Markets shudder as Hormuz becomes a combat zone. 'We're prepared to subject you to disabling fire'

Tensions in the Gulf escalated Sunday, when the Navy seized a ship for the first time as part of its blockade, with a destroyer firing at a vessel attempting to evade the dragnet. Futures tied to the Dow Jones industrial average fell 407 points, or 0.82%. S&P 500 futures were down 0.67%, and Nasdaq futures lost 0.57%. U.S. oil futures jumped 7.14% to $89.94 a barrel, and Brent crude climbed 5.9% to $95.71. Gold fell 1.6% to $4... [3146 chars]

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