LIVE NOW: Latest market reaction to US-Israeli attacks on Iran

Equity futures plunge across the board

Dow futures indicate a drop exceeding 500 points (>1%), S&P 500 futures are down approximately 1.2%, and NASDAQ futures point to a 1.5% decline at the open.

Crude oil surges nearly 8% on supply fears

Brent crude gapped up 13% to cross $82 per barrel overnight, with analysts warning prices could reach $90-$100 if the Strait of Hormuz remains threatened for weeks.

Safe-haven assets catch a bid

Gold futures rallied approximately 3% as investors fled to safety, while Bitcoin showed initial volatility before trading lower intraday.

European natural gas prices spike on Qatar shutdown

Qatar shut down its LNG export facility, exposing Europe's vulnerability since roughly 20% of global LNG supply traverses the Strait of Hormuz and regional storage is already depleted.

Conflict expands beyond Iran to Gulf states

Iran has attacked targets in Qatar and the UAE while Israel confirmed new strikes against Hezbollah in Lebanon, regionalizing the conflict beyond initial expectations.

Iran retains significant strike capabilities

Defense Secretary Hegseth confirmed Iran still possesses long-range missile and drone facilities, indicating the conflict will not end overnight despite decapitation strikes killing the Supreme Leader.

Duration estimates remain highly uncertain

Administration officials offer conflicting timelines ranging from two weeks to six weeks, creating market instability as investors price in scenarios from brief disruptions to prolonged campaigns.

Energy infrastructure now under direct attack

Saudi Arabia's Ras Tanura refinery shut down as a precaution after a drone strike, marking a shift from military-only targets to critical oil facilities that could tighten global supply.

Congress prepares for war powers confrontation

Lawmakers expect a briefing Tuesday followed by a war powers vote this week to challenge President Trump's authority, though securing a veto-proof majority remains unlikely.

Administration messaging on goals remains contradictory

Officials deny seeking regime change while simultaneously claiming 'the regime did change,' failing to clarify whether the mission aims for political transformation or solely military degradation.

Public opposition fails to shift strategy

Polling shows a 21-point disapproval rating for the President's foreign policy handling, but the administration shows no indication of altering course despite the unpopularity and approaching midterms.

Iranian internal opposition unable to mobilize

Despite the leadership vacuum, internet blackouts and ongoing bombardments prevent internal regime challengers from organizing, undermining administration hopes for a popular uprising.