"After initially taking the Middle East war in stride on Monday, market anxiety ratcheted higher overnight amid concerns that a decapitated and leaderless Iranian government and military will execute a prolonged retaliatory response aimed at sowing chaos throughout the region by targeting key economic and energy infrastructure for weeks to come."
"While the US and Israeli militaries have complete dominance in the region, they can't knock out every cheap missile and drone fired off by Iran, especially since interceptor stockpiles are rapidly depleting."
Stock markets experienced significant declines across major indices, with S&P 500 futures down 1.62%, the Dow down 1.5%, and the Nasdaq down 2.15%. Oil prices surged $5 due to Iranian war concerns and threats to the Strait of Hormuz. Bitcoin fell 2.61% while gold declined $150. Escalating Middle East conflict indicators include drone attacks on the U.S. embassy in Riyadh, State Department evacuations in Bahrain, Iraq, and Jordan, and Hezbollah attacks on Tel Aviv. President Trump indicated the conflict could extend four weeks. Market analysts warn that a decapitated Iranian government may execute prolonged retaliatory strikes targeting regional economic and energy infrastructure. Oil prices could potentially reach $100 if the Strait of Hormuz closes for an extended period.
Read at 24/7 Wall St.
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