Global Stocks Slide, Oil Surges After Israeli Strikes Iran

The recent Israeli airstrikes on Iranian nuclear and military sites have sharply escalated Middle East tensions, causing significant volatility in global financial markets. Oil prices surged over 8%, with Brent crude briefly hitting its highest daily gain since May 2020, driven by fears of supply disruptions and potential wider regional conflict. US stock futures and major European indices like the FTSE 100, CAC 40, and DAX are poised for declines as investors flee risk assets, while defense and energy stocks, including Chevron and Lockheed Martin, saw gains. The Trump administration, while not involved in the strikes, urged Iran toward completing a peace deal amid concerns of retaliatory attacks on US military bases. Safe-haven assets such as gold rose, and US Treasury yields increased, reflecting heightened geopolitical uncertainty. Despite a brief market rebound, uncertainty remains high with investors closely watching further developments and key economic data releases.