World markets seek safety after a weekend of threats

 ?? My Pro Rata Podcast has returned with our first new episode of 2020. Today's episode covers the wildfires that continue to rage in Australia.

• Be sure to also check out our final 2019 episode, in which we wrap up the past 10 years in 12 minutes

Let's get to the news:

• ????1 world thing: President Trump came in hot during a half-hour conversation with the White House press pool on Air Force One. The latest Trump statements on Iran.
• ?1 2020 thing: Julián Castro has endorsed Elizabeth Warren for president.
• ??1 tech thing: What's happened so far at CES 2020.

?? For more on the news of the day, sign up for one of our Axios newsletters.

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1 big thing: World markets seek safety after a weekend of threats

By: Dion Rabouin ? Newsletter: Axios Markets (sign up here)

Protesters have taken to the streets all over the world to object to U.S. actions, including this rally in front of the U.S. embassy in Manila. Photo: Ted Aljibe/AFP via Getty Images

The price of gold hit its highest in nearly seven years, oil hit a four-month peak and stocks were in the red across Asia and Europe, with Gulf stocks from Kuwait and Saudi Arabia down and S&P futures lower, as tensions between the U.S. and Iran ratcheted up over the weekend.

Of note: Safe-haven assets like U.S. Treasuries and the Japanese yen also saw buying, with the dollar touching its weakest in three months against the yen.

Yes, but: While the war of words has many on edge and fearing the worst, for financial markets much of the reaction seen since Friday's airstrike will be short-lived, if history is a guide.

Go deeper: Read the full story

?? For more on how the markets are responding to Trump's Iran threats, sign up for Dion's daily Axios Markets newsletter.

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2. Scoop: SoftBank keeps walking away from startup investments

By: Dan Primack ? Newsletter: Axios Pro Rata (sign up here)

Illustration: Eniola Odetunde/Axios

SoftBank Vision Fund has walked away from investing in several startups, months after submitting term sheets worth hundreds of millions of dollars and promising that closing delays were only temporary, Axios has learned.

Why it matters: This is highly unusual behavior, even for the idiosyncratic SoftBank, and threatens its ability to invest in highly sought-after companies. SoftBank, which has invested record amounts into startups over the past few years, confirmed that it has "regret" over these situations.

Go deeper: Read the full story

??For more SoftBank news, sign up for my daily Pro Rata newsletter.

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3. Tech's biggest upcoming battles in 2020

By: Scott Rosenberg ? Newsletter: Axios Login (sign up here)

Illustration: Eniola Odetunde/Axios

The most consequential stories for tech in 2020 pit the industry's corporate colossi against the U.S. government, foreign nations, and the human needs of their own customers.

Why it matters: Today's tech giants own and operate the informational hubs that increasingly shape our public and private lives. That's putting their products and policies under greater scrutiny than ever before.

Go deeper: The five big battles Big Tech will face in the coming year

?? Sign up for Axios Login for all the updates on how these battles unfold.