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We have stocks down and oil prices spiking, given Israel versus Iran.

I'm David Brancaccio in Los Angeles.

After Israel launched attacks on Iran's nuclear capabilities, open warfare in the region is forcing money to shift on financial markets right now.

Germany's DAX stock index is down one and a half percent.

Here, Dow and S&P futures are both down 1.1 percent. NASDAQ futures are down 1.4 percent. The VIX index

of stock market volatility for the U.S. is up 16 percent overnight. Iran is the seventh

largest producer of crude oil in the world, equivalent to Iraq and just ahead of the UAE and Brazil.

Here's Stuart Clarkson with our partners at the BBC.

Global oil prices surged by more than 10 percent shortly after news broke of the attacks,

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