{"id":62436,"date":"2026-05-27T23:38:19","date_gmt":"2026-05-28T03:38:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-as-iran-attacks-u-s-airbase-oil-surges-toward-100\/62436\/"},"modified":"2026-05-27T23:38:19","modified_gmt":"2026-05-28T03:38:19","slug":"global-markets-shaken-as-iran-attacks-u-s-airbase-oil-surges-toward-100","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-as-iran-attacks-u-s-airbase-oil-surges-toward-100\/62436\/","title":{"rendered":"Global Markets Shaken as Iran Attacks U.S. Airbase; Oil Surges Toward $100"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Crude oil prices surged over 3%<\/strong>, with Brent reaching <strong>$97.30<\/strong> and U.S. crude hitting <strong>$91.55<\/strong>, following a confirmed Iranian missile attack on a U.S. airbase.<\/li>\n<li><strong>Geopolitical instability spread to Kuwait<\/strong>, where armed forces engaged hostile missiles and drones while sirens sounded across Kuwait City.<\/li>\n<li><strong>Global equity markets retreated sharply<\/strong> as the Hang Seng Index fell more than <strong>2%<\/strong> and Japan\u2019s Nikkei 225 dropped to <strong>64,571.54<\/strong>.<\/li>\n<li><strong>The U.S. Dollar strengthened<\/strong> amid a flight to safety, weighing on the Euro (<strong>$1.1605<\/strong>) and Sterling (<strong>$1.3393<\/strong>), while <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices collapsed nearly <strong>3%<\/strong>.<\/li>\n<li><strong>Central bank officials signaled further tightening<\/strong>, with the Fed\u2019s Goolsbee warning that oil supply shocks exacerbate inflation risks and the Bank of Korea hinting at future rate hikes.<\/li>\n<\/ul>\n<h2>IRGC Retaliation Triggers Regional Escalation<\/h2>\n<p><strong>Iran\u2019s Revolutionary Guard Corps (IRGC)<\/strong> confirmed it carried out an attack on a <strong>U.S. airbase<\/strong> in retaliation for a recent incident near Bandar Abbas Airport. The IRGC issued a stern warning via <em>Tasnim<\/em>, stating that the U.S. is responsible for the consequences of recent developments and that any further escalation would be met with a <strong>\u201cmore decisive\u201d<\/strong> response.<\/p>\n<p>The conflict appeared to widen as <strong>Kuwait\u2019s armed forces<\/strong> reported engaging hostile missiles and drones using air defense systems. Residents in Kuwait City reported hearing explosions northwest of the city, which authorities attributed to successful interceptions as sirens were activated nationwide.<\/p>\n<p>In a separate theater of conflict, the <strong>Israeli military<\/strong> reported that a <strong>Givati Brigade sergeant<\/strong> was killed during operations on the Lebanon border. Israel responded by launching targeted strikes against <strong>Hezbollah-linked infrastructure<\/strong> in the Tyre region of southern Lebanon.<\/p>\n<h2>Oil Prices Spike as Equities Tumble<\/h2>\n<p>Energy markets reacted violently to the hostilities, with <strong>Brent crude futures<\/strong> advancing <strong>$3.01<\/strong> to reach <strong>$97.30<\/strong> per barrel. <strong>U.S. crude (WTI)<\/strong> climbed <strong>$2.87, or 3.24%<\/strong>, to settle at <strong>$91.55<\/strong> as traders priced in significant supply disruption risks in the Middle East.<\/p>\n<p>Equity markets saw a broad sell-off during late Asian and early European trade. Japan\u2019s <strong>Nikkei share average<\/strong> deepened its decline to <strong>0.66%<\/strong>, while Hong Kong\u2019s <strong>Hang Seng<\/strong> plunged over <strong>2%<\/strong>. European futures for the <strong>EuroStoxx 50 (-0.62%)<\/strong> and <strong>FTSE (-0.7%)<\/strong> signaled a weak opening for Western markets.<\/p>\n<p>The <strong>U.S. Dollar Index<\/strong> gained momentum, forcing the <strong>Aussie dollar<\/strong> down <strong>0.39%<\/strong> to a one-week low of <strong>0.71140<\/strong>. Precious metals failed to act as a hedge, with <strong>Silver<\/strong> slipping nearly <strong>3%<\/strong> to <strong>$72.40<\/strong> per ounce as the greenback\u2019s strength dominated price action.<\/p>\n<h2>Central Banks Warn of Inflationary Pressures<\/h2>\n<p><strong>Federal Reserve<\/strong> official Austan Goolsbee noted that supply shocks, specifically <strong>oil disruptions<\/strong>, make inflation risks from anticipated productivity gains significantly more severe. Goolsbee suggested that if markets continue to expect productivity gains, monetary policy may need to <strong>tighten further<\/strong> to maintain stability.<\/p>\n<p>Similarly, <strong>Bank of Korea (BOK)<\/strong> Governor Shin signaled that rate hikes may be necessary due to emerging signs of rising inflationary pressure. Shin noted that while there are timing disagreements among board members, the overall stance of the BOK remains aligned toward <strong>policy tightening<\/strong> amid an uncertain economic outlook.<\/p>\n<p>In the bond market, the <strong>U.S. 10-year Treasury yield<\/strong> rose slightly to <strong>4.5182%<\/strong>, reflecting the market&#39;s adjustment to a &quot;higher-for-longer&quot; interest rate environment. The <strong>2-year yield<\/strong> remained relatively stable, holding at <strong>4.0698%<\/strong>.<\/p>\n<h2>Corporate Highlights: Meta and Retail Outlook<\/h2>\n<p>Despite the macroeconomic turmoil, several companies saw significant updates. Meta (<a href=\"\/stock\/META\">META<\/a>) is reportedly testing <strong>AI subscriptions<\/strong> and rolling out new paid plans for Facebook and Instagram, according to the <em>Wall Street Journal<\/em>, as it seeks to diversify revenue streams.<\/p>\n<p>In analyst action, <strong>Barclays<\/strong> increased its price target for Dick&#39;s Sporting Goods (<a href=\"\/stock\/DKS\">DKS<\/a>) to <strong>$280<\/strong> from $264, citing a positive outlook. Meanwhile, <strong>Piper Sandler<\/strong> significantly raised its target for Snowflake Inc (<a href=\"\/stock\/SNOW\">SNOW<\/a>) to <strong>$295<\/strong> from $230, signaling confidence in the data-cloud sector&#39;s growth potential.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Crude oil prices surged over 3%, with Brent reaching $97.30 and U.S. crude hitting $91.55, following a confirmed 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