Oil Gains, Stocks Fall Following Saudi Strike on Yemen

Crude oil and related equities spiked, and broader markets were rattled after Saudi Arabia and its allies launched air strikes on Yemen. The strikes targeted Iran-backed Houthi rebels besieging the southern city of Aden, according to Reuters.

Oil futures are poised open higher by 4%, while the Dow and S&P are set to open lower by about 0.75%. Gold futures gained.

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