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Gulf markets plunge on U.S.-Iran tensions, Aramco hits lowest since IPO

Gulf stocks fell sharply in late afternoon trade on Sunday, with Kuwaiti and Saudi stocks leading losses. Shares of oil giant Aramco , which listed last month in a record initial public offering (IPO), fell 1.7% to hit the lowest level since it started trading on Dec 11. Iranian military commander Qassem Soleimani, the architect of Tehran's overseas military operations was killed on Friday in a U.S. drone strike on his convoy at Baghdad airport....

Iran Warns Those Who Supported Soleimani Killing ‘Will Pay’

(Bloomberg) -- Iran’s defense minister warned those siding with the U.S. in the killing of a top general could face far-reaching consequences, and its foreign minister said the end of America’s presence in West Asia has begun.“Those who imply support for the U.S. terrorist act will pay for it globally and regionally,” Brigadier General Amir Hatami was cited as saying in the semi-official Mehr news agency, referring to the killing of Qassem Soleimani.President Donald Trump said Saturday the U.S. has identified 52 Iranian targets, including cultural sites, it would hit if Tehran retaliates against the killing. “Let this serve as a WARNING that if Iran strikes any Americans, or American assets, we have...targeted 52 Iranian sites,” Trump said in a series of Twitter posts. Iran “WILL BE HIT VERY FAST AND VERY HARD.”Responding to Trump’s comments, Iran’s Foreign Minister Javad Zarif said on Twitter: “Whether kicking or screaming, end of US...