Middle East conflict escalates significantly following a US/Israel strike on Iran's Supreme Leader, triggering a seismic response. Global markets react with shock: oil surges 10%, European natural gas jumps 22%, gold hits $5,413, and the DXY climbs to a five-week high. Equities, led by Europe's STOXX 600, retreat, while safe-haven assets and defense stocks soar. The instability, including strikes in Cyprus and GCC countries, threatens a new wave of global inflation.
02-03-2026 10:17 GMT
by Zain Vawda