Tensions between Israel and Iran have reached a boiling point after Iran launched a missile strike targeting Israel. This attack comes on the heels of an Israeli operation against Hezbollah militants in southern Lebanon. In response, President Joe Biden and Vice President Kamala Harris convened an emergency meeting with national security officials at the White House to assess the US's readiness to support Israel's defense.
The financial markets reacted swiftly, with the Dow Jones Industrial Average plummeting over 250 points. The primary driver behind this decline was the surge in WTI crude oil prices, fueled by investor concerns over the escalating instability in the oil-rich Middle East.
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