The US and Israeli attacks on Iran that commenced over the weekend shocked global markets and led to jarring price moves in the S&P 500 (GSPC), oil, and gold.

President Trump, meanwhile, pledged that the war could last for four to five weeks — or even “be fought ‘forever’” with existing munitions stockpiles, suggesting that the volatility is likely to continue.

Indeed, Tuesday brought a steep stock sell-off amid new strikes that increased fears of a drawn-out war.

But a Yahoo Finance analysis of these three key markets — oil, gold, and stocks — in previous moments of geopolitical shock found a familiar pattern: Prices have often spiked on the first days of trading but tended to normalize within weeks, even…