A look back at when the world feared the worst
On August 2, 1990, the world woke up to a grim headline: “Iraq Invades Kuwait; Oil Prices Soar, Markets Plunge.” Saddam Hussein’s forces had crossed into Kuwait, triggering fears of a prolonged conflict in the oil-rich Middle East. The immediate market reaction was swift and severe: – Oil prices surged more than 30% within a few . . .
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