The Australian share market has closed lower, but pulled back from steeper earlier losses, after Iran's foreign minister said its strikes against US forces in Iraq "concluded proportionate measures in self-defence" following the US killing of an Iranian general.
In an escalation feared by markets, US officials this morning confirmed rockets had been fired at the Al-Asad and Erbil airbases in Iraq, which host US forces.
US stock market futures initially fell sharply in response to the news, with S&P 500 and Dow Jones futures both falling as much as 1 per cent.
The Australian share market has also took a hit, with the ASX 200 also down close to a per cent at its worst.
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