{"id":64679,"date":"2026-07-13T00:08:16","date_gmt":"2026-07-13T04:08:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-conflict-escalates-as-iran-claims-strikes-on-u-s-bases-global-markets-shaken\/64679\/"},"modified":"2026-07-13T00:08:16","modified_gmt":"2026-07-13T04:08:16","slug":"middle-east-conflict-escalates-as-iran-claims-strikes-on-u-s-bases-global-markets-shaken","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-conflict-escalates-as-iran-claims-strikes-on-u-s-bases-global-markets-shaken\/64679\/","title":{"rendered":"Middle East Conflict Escalates as Iran Claims Strikes on U.S. Bases; Global Markets Shaken"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Iran\u2019s Revolutionary Guard (IRGC)<\/strong> claims to have targeted <strong>U.S. military bases in Kuwait, Bahrain, and Jordan<\/strong> with missiles and drones, following a weekend of heavy U.S. airstrikes.<\/li>\n<li><strong>The Strait of Hormuz<\/strong> remains a flashpoint as Tehran declares the waterway closed, a claim the <strong>U.S. Central Command (CENTCOM)<\/strong> has rejected while asserting continued freedom of navigation.<\/li>\n<li><strong>South Korea\u2019s KOSPI (<a href=\"\/stock\/KOSPI\">KOSPI<\/a>)<\/strong> index plunged <strong>7%<\/strong>, triggering circuit breakers as a broader Asian market selloff intensified amid geopolitical fears and a chip sector retreat.<\/li>\n<li><strong>Brent crude<\/strong> futures jumped <strong>3.3% to $78.49<\/strong> a barrel, fanning global inflation concerns and pushing the <strong>U.S. Dollar Index<\/strong> to its highest level since July 8.<\/li>\n<li><strong>The European Union<\/strong> imported a record <strong>9.89 million tonnes<\/strong> of LNG from Russia\u2019s Yamal plant in the first half of 2026, highlighting continued energy dependence despite looming 2027 bans.<\/li>\n<\/ul>\n<h2>Middle East Tensions Reach New Peak<\/h2>\n<p>The conflict between the <strong>United States<\/strong> and <strong>Iran<\/strong> intensified on Monday as the <strong>Islamic Revolutionary Guard Corps (IRGC)<\/strong> announced a &quot;multi-phase retaliatory operation.&quot; Tehran claims to have successfully struck <strong>Ahmed Al Jaber Air Base<\/strong> in Kuwait and <strong>Prince Hassan Air Base<\/strong> in Jordan, alleging these sites were used for &quot;U.S. aggression against civilian infrastructure.&quot;<\/p>\n<p><strong>U.S. Central Command (CENTCOM)<\/strong> confirmed it completed a fresh wave of strikes targeting Iranian air-defense systems, coastal radar sites, and drone capabilities. While Iran insists the <strong>Strait of Hormuz<\/strong> is now closed to all traffic, U.S. officials, including President Trump, have dismissed the claim, stating that the waterway remains open and that U.S. forces will continue to protect commercial shipping.<\/p>\n<h2>Global Markets React to Geopolitical Shock<\/h2>\n<p>The escalation has sent shockwaves through global financial markets, with <strong>South Korea\u2019s KOSPI (<a href=\"\/stock\/KOSPI\">KOSPI<\/a>)<\/strong> suffering its worst intraday drop in months. The index fell more than <strong>6.6%<\/strong>, breaking below the critical 7,000-point mark as foreign investors offloaded shares in tech giants like <strong>Samsung Electronics (<a href=\"\/stock\/005930\">005930<\/a>)<\/strong> and <strong>SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>)<\/strong>.<\/p>\n<p>Safe-haven demand propelled the <strong>U.S. Dollar<\/strong> higher against major peers, with the <strong>EUR\/USD<\/strong> pair facing downside pressure toward the <strong>1.1325<\/strong> level. Analysts at <strong>IG<\/strong> noted that the combination of rising energy prices and geopolitical instability is &quot;reinflaming concerns&quot; that central banks may be forced to pull forward interest rate hikes to combat potential inflationary spikes.<\/p>\n<h2>Corporate and Energy Developments<\/h2>\n<p>In the pharmaceutical sector, <strong>Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>)<\/strong> received a boost as <strong>Jefferies<\/strong> lifted its price target to <strong>$60<\/strong>, citing progress in the company\u2019s non-COVID pipeline. The stock has seen significant momentum following positive FDA advisory committee votes on its seasonal flu vaccine and a broader strategic pivot toward oncology and autoimmune treatments.<\/p>\n<p>Meanwhile, a report from the <em>Financial Times<\/em> revealed that the <strong>European Union<\/strong> is buying record amounts of gas from Russia\u2019s flagship <strong>Yamal LNG<\/strong> plant. Despite political commitments to decouple from Russian energy, imports rose <strong>18% year-on-year<\/strong> in the first half of 2026, with <strong>France<\/strong>, <strong>Belgium<\/strong>, and <strong>Spain<\/strong> emerging as the primary buyers. This surge comes as traders look to secure supplies ahead of a total ban on Russian LNG scheduled for January 2027.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iran\u2019s Revolutionary Guard (IRGC) claims to have targeted U.S. military bases in Kuwait, Bahrain, and Jordan with missiles 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