Oil surged toward $100/barrel as US-Iran tensions escalated in the Strait of Hormuz, triggering a global risk-off selloff that sent stocks lower across US, Asian and European markets. The S&P 500 fell 0.4% to 7,718.41, Japan’s Nikkei plunged 1.70% as the yen strengthened, and Brent crude hit $98.60/bbl. Fed rate hike odds rose to 66%…