Conflict Ripples Through Markets, Oil Prices Rise

The Middle East conflict rippled through markets from Tokyo to New York on Monday, with investors saying the consequences of the disruption to oil and capital flows depend on one key factor: how long it goes on.

- BY KRYSTAL HUR AND DAVID UBERTI

Stocks initially fell and oil prices surged in the first trading day since the U.S.-led strikes in the Middle East began. Airline shares sank. Gold and defense contractors jumped. The dollar climbed. But a rally in energy and tech helped the S&