A hot world war While the immediate danger of the crisis in Gaza for financial markets is that it brings in Iran and leads to a surge in oil prices that smashes the global economy, Dalio has a bigger picture concern. He sees the conflict between Israel and the Hamas terrorist organisation as another step towards a bigger war that drags in other nation states. “In my opinion, this war has a high risk of leading to several other conflicts of different types in a number of places, and it is likely to have harmful effects that will extend beyond…