NEW YORK PORT AUTHORITY OFFICIAL: GROUND VEHICLE WAS RESPONDING TO A SEPARATE UNITED AIRCRAFT AT TIME OF COLLISSION

IRAN’S DEFENCE COUNCIL SAYS AN ATTACK ON IRAN’S COAST OR ISLANDS WILL CUT GULF ROUTES AND COMMUNICATION LINES, LEAD TO LAYING OF EXPLOSIVE SEA MINES INCLUDING FROM IRAN'S COAST

Gold erased its 2026 gains, falling for a ninth session as Middle East tensions lifted inflation risks and rate expectations. Bullion dropped nearly 5% below $4,300, its worst weekly loss since 1983, pressured by reduced prospects for Fed easing and forced selling. Markets remained volatile, with crude elevated and equities choppy. Analysts said the rapid selloff mirrors past shocks, often followed by rallies. Despite oversold signals, hedge funds raised net-long positions. Spot gold fell 4.8% to $4,275.56 in Singapore.