The US and Israel bombed Iranian nuclear and steel facilities on Friday, while Iran retaliated across the Persian Gulf, causing markets to sink and oil prices to rise amid fears an extended Middle East conflict will drag down the global economy. Airstrikes on Friday targeted a heavy water research reactor that’s part of Iran’s Arak nuclear complex and a yellow cake production plant in Yazd province, as well as two of the country’s biggest steelmakers, according to Iranian state media reports.