Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

Iran and Israel continued trading fire in a fourth day of armed escalations. "The residents of Tehran will pay the price, and soon," Israeli Defense Minister Israel Katz pledged following reported Iranian strikes against Tel Aviv and Haifa.

Israel’s stunning attacks on Iran’s nuclear program and military leadership are embroiling the Middle East in another deadly war — and could imperil President Donald Trump’s pledge to slash oil prices for American consumers.