Israel ordered immediate military action against Iran following what it claims was a breach of the recently announced ceasefire. The move came after missile attacks on Be’er Sheba killed three civilians, prompting the Israeli government to accuse Tehran of launching fresh strikes despite the truce declared by the United States.
Defense Minister Israel Katz confirmed that Israeli forces were instructed to target Iranian regime assets and terror infrastructure. The strikes reportedly followed four volleys of missiles early Tuesday, hours after President Donald Trump had announced a ceasefire agreement between the two sides. Iran denied any missile launches after the ceasefire, with the denial published by ISNA, a student-run Iranian outlet.
Israel responds as tensions escalate
Prime Minister Benjamin Netanyahu backed Katz’s directive, stating that previous airstrikes carried out on June 13 had already met their intended objectives. He emphasized that Israel’s defense actions aimed to dismantle Iran’s nuclear program and missile infrastructure. Netanyahu also thanked President Trump and the United States for their continued support in ensuring national security.
Despite the renewed violence, global markets reacted positively, seemingly pricing in Trump’s earlier ceasefire announcement before the latest escalation was reported. The situation remains fluid, with Israel confirming ongoing military operations targeting Tehran.
Markets rally despite Middle East conflict
Global stock indices rose sharply on Tuesday even as news of fresh missile attacks emerged. In Europe, the Stoxx Europe Travel and Leisure Index jumped by 4 percent. Airline and hotel shares led the charge, with EasyJet gaining 6.5 percent, InterContinental Hotels up 3.3 percent, and Carnival rising 5.9 percent.
Asian markets mirrored this upward trend. Japan’s Nikkei 225 advanced 1.17 percent, South Korea’s Kospi gained 2.71 percent, and Australia’s S&P/ASX 200 increased by 1 percent. Hong Kong’s Hang Seng Index rose 1.91 percent, while the CSI 300 climbed 1.13 percent. In the United States, the Dow Jones added 374.96 points, closing 0.89 percent higher. The S&P 500 rose 0.96 percent, and the Nasdaq Composite ended the session up 0.94 percent.
Currencies shift as oil declines and crypto surges
Oil prices fell, allowing several currencies to strengthen. The US dollar dropped 0.75 percent against the yen, while the euro gained 0.27 percent. The Australian and New Zealand dollars also rose. Meanwhile, the Israeli shekel strengthened by 1.5 percent. Bitcoin climbed 2 percent to $105,832, and ether jumped 3.2 percent to $2,425. US crude dropped to $66.9 per barrel, and Brent crude settled at $69.87.