This is CNBC’s live blog covering the U.S.-Israel strikes on Iran, and Tehran’s counterattacks across the Middle East. CNBC’s reporters are covering the strikes from our bureaus in Washington, London, Singapore, San Francisco, and Englewood Cliffs, New Jersey. Head here for the previous day’s updates.
What you need to know
The U.S.–Iran war is escalating rapidly, entering its fourth day, with the American Embassy in Riyadh coming under attack Tuesday and President Donald Trump warning that the conflict could stretch well beyond the four weeks he had estimated earlier.
Risk-off mood has taken hold of markets with gold, considered a safe-haven during times of uncertainty, surging while global equities continue to remain under pressure — U.S. futures and Asian markets fell on Tuesday.
Prospects of an energy supply shock have risen, with Iran reportedly closing the Strait of Hormuz, and warning that it will target vessels that attempt to transit via the critical waterway, sending oil prices higher.
