Following Israel's early morning strikes on Iran's nuclear sites, global economic markets reacted sharply, with oil prices soaring by 10% and investors fleeing to safe-haven assets. Israeli Prime Minister Netanyahu signaled the operation would persist until Iran's nuclear threat was eliminated, while Iran's leadership threatened retaliation. Stock markets fell, reflecting fears of an escalating regional conflict, as airlines canceled flights amid safety concerns. The attack underlined tensions that could have significant and lasting impacts on global economic stability and energy prices.
The effects of the attack have cascaded across global markets, with a strong risk-off move for several asset classes, spurring significant fears about an escalation and a wider regional conflict.
The military operation will continue for as many days as it takes to remove this threat, referring to Tehran developing nuclear weapons, said Israeli Prime Minister Benjamin Netanyahu.
Iran's Supreme Leader Ayatollah Ali Khamenei warned that Israel must expect harsh punishment for its strikes, indicating the potential for a prolonged conflict.
Crude oil futures jumped by as much as 13% as traders bet that Israel's attack would not be a one-off, reflecting heightened tensions in the region.
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