Once again, the ancient rhythm of escalation between great powers has interrupted the quieter rhythms of commerce and daily life. American and Iranian forces exchanged strikes across the Gulf on Tuesday, and the world — from oil markets to central banks to diplomatic summits — responded as if the ground beneath a long-uneasy peace had shifted. What markets had learned to absorb as routine suddenly felt like a turning point, reminding observers that geopolitical cycles, however familiar, carry consequences that compound across borders and balance sheets.
U.S.-Iran escalation reshapes markets as Fed signals rate hike
Joint statement from Shanghai Cooperation Organization leaders cited numerous civilian casualties and significant economic damage from military strikes on Iran.