Oil prices rise and stocks slide as Middle East violence flares, adding to uncertainty

Oil prices jumped two per cent and world shares skidded on Tuesday as recurring violence in the Iran war, after more than a month with no significant fighting, heightened uncertainty over the future of the conflict. Shares in online fast-fashion retailer Shein fell as much as 10 per cent after they began trading in Hong Kong on Tuesday. They closed 4 per cent lower.