Wall Street is reacting to the ongoing conflict between Israel and Iran. CBS News MoneyWatch correspondent Kelly O'Grady reports.

The initial round of Israeli attacks sent oil prices 7 percent higher on Friday. Still, at about $74 a barrel, Brent crude remains below the $80 average for 2024, the Deutsche Bank analysts wrote. The market continued to waver, though, and by Monday, oil prices had fallen about 3 percent.

Israel and Iran have begun a new round of attacks, as the conflict between the two heavily armed rivals enters its fourth day.

Israel's shekel jumped sharply and stocks and bonds gained on Monday as investors began to look beyond the escalating conflict with Iran and shape a more favourable long-term risk assessment for the country's assets.