March S&P 500 E-Mini futures (ESH26) are down -1.05%, and March Nasdaq 100 E-Mini futures (NQH26) are down -1.44% this morning as sentiment took a hit after the U.S. and Israel exchanged deadly strikes with Iran across the Middle East.
On Saturday, the U.S. and Israel carried out a coordinated military strike on Iran. U.S. President Donald Trump said the military operation began after Iran refused to commit to renouncing nuclear weapons, even though Tehran has repeatedly maintained it is not pursuing them. Iran’s supreme leader was killed in U.S.-Israeli airstrikes, escalating a conflict that is spreading across the oil-rich Middle East. Iran quickly retaliated with strikes on Israel, U.S. military bases throughout the region, and Persian Gulf nations, including the financial hub of Dubai. On the third day of the conflict, U.S. and Israeli forces continued their strikes on Iran, while Israel also targeted Hezbollah positions in Lebanon. President Trump said the bombing campaign in Iran would continue, potentially for weeks, and urged the nation’s leaders to capitulate.
