The U.S. military carried out what it described as defensive strikes against targets in southern Iran on Monday. These operations targeted missile launch sites and boats placing mines.
Financial markets have reacted with mixed results. Wall Street stocks mostly rose to record highs and other equities climbed, while shares in Asia remained mixed. Oil prices also showed mixed results following the strikes on Iranian forces, though U.S. oil prices were lower.
This market activity comes as investors bet that a deal to re-open the Strait of Hormuz is close. There are continued hopes for a potential U.S.-Iran peace deal, despite renewed military tensions and hostilities that are testing a fragile ceasefire. The ongoing situation continues to underscore the risks facing markets and consumers.