The United States and Israel launched a coordinated military attack on Iran on Saturday, with explosions reported in Tehran and other major cities. Israeli Defense Minister Israel Katz described the operation as a "preemptive attack" aimed at removing threats to Israel. The strikes mark a severe escalation of the long-standing conflict in the Middle East, directly threatening global energy supplies and triggering a flight to safety in global markets.
In a video announcement, U.S. President Donald Trump confirmed the start of "major combat operations" designed to destroy Iran's missile and military capabilities and prevent the country from obtaining nuclear weapons. President Trump stated the objective is to defend against imminent threats from the Iranian regime and urged Iranian security forces to lay down their arms. Both Israel and Iran have subsequently closed their airspace, with Israel declaring a state of emergency in anticipation of retaliation.
Market Impact: Dow Futures led equity indices lower, falling 1.07%, while S&P 500 Futures dropped 0.45% and Nasdaq Futures slid 0.30%. In cryptocurrency markets, Bitcoin fell 3.20% and Ethereum plunged 3.90% since the last session close.