The tone in global financial markets has turned cautious after a U.S. airstrike killed a top Iranian commander, fueling concern over an escalation in tensions.
U.S. stock futures dropped and Asian shares reversed gains, while oil spiked along with the yen and gold. Qassem Soleimani, a feared Iranian general who through proxy militias extended his country's power across the Middle East, was killed at the direction of U.S. President Donald Trump. The risk-off move deepened after Iran's supreme leader, Ayatollah Ali Khamenei, said "severe retaliation" awaited Mr. Soleimani's killers.
The shock news comes after most asset classes had a stellar 2019, with U.S. equities capping one of the best years of the past decade.
Here are 10 analysts and money managers on what it means for the market outlook: