Overview

• Israel carried out precision airstrikes on nuclear and military sites in Iran on June 13 and Iran responded by launching roughly 100 drones towards Israel.
• Brent crude jumped over 6% to above $73 a barrel on fears of disrupted oil flows from the Middle East.
• U.S. stock-index futures, including S&P 500 E-minis and Nasdaq 100 E-minis, plunged around 1% as investors flocked to gold, U.S. Treasuries and the Swiss franc.
• U.S. Secretary of State Marco Rubio described the operation as a unilateral Israeli action, affirming that Washington was not involved.
• Traders expect the Federal Reserve to maintain current interest rates at its next meeting given heightened geopolitical risks.