By Israel’s large-scale air assault on Iran’s strategic installations—codenamed Operation Rising Lion—has fueled sharp volatility in global markets. Over 200 jets hit key nuclear and missile facilities, prompting Tehran to respond with over 100 drones. The IAEA reports no radiation surge Crude surged 9%, with WTI climbing to $75.65 and Brent to $78.50 per barrel—the largest intraday jump since Russia’s invasion of Ukraine reuters.com. J.P. Morgan warns prices could reach $120 if tensions persist.
Safe-haven currencies, including the dollar, yen, and Swiss franc, strengthened, while gold hit its highest since May. Risk-sensitive currencies like the Aussie and Kiwi dollars slid nearly 1%.
U.S. Treasury yields dropped as investors moved to secure assets ahead of upcoming inflation data and central bank decisions reuters.com. Meanwhile, equity markets faced sharp losses across Asia and Europe.
As U.S.–Iran nuclear negotiations in Oman approach, policymakers are warning the market fallout could deepen if conflict escalates further.