Oil price jumps over 4% and gold slides as the US and Iran trade attacks –business live

Asian shares tumble with South Korea’s Kospi down nearly 10% Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. It’s a gloomy start to the week as attacks between the US and Iran in the Gulf continue. Tehran said it had closed the strait of Hormuz, while Donald Trump insisted the key shipping passage remained open and US officials said 20 ships were escorted through the waterway in the past 24 hours. For now, we remain hopeful that both parties would return to the negotiating table and traffic would start to flow through the strait. We a