Overview

• The United States launched strikes on Iranian nuclear sites after weeks of exchanges between Tehran and Israel.
• Iran’s leadership declared all options open, including potential closures of the Strait of Hormuz to pressure global trade.
• Oil prices surged to levels not seen in five months as supply fears intensified after the U.S. and Israeli operations.
• Asian and European stock markets showed mixed performances as investors weighed geopolitical fallout and tech stock weakness.
• The Federal Reserve kept interest rates unchanged, and Fed officials differed on the timing of future rate cuts due to uncertainty over inflation and market volatility.