Looking ahead, investors will watch closely for updates on the Israel-Iran conflict, the US Federal Reserves decisions, and how the monsoon season develops in India. Investors are expected to be cautious because stock prices are already high and political tensions continue.

For one thing, early reports indicate the air strikes did not hit Iran’s petroleum facilities, which means the Islamic Republic should be able to keep producing crude oil at the same rate as before. Due to international sanctions, Iran relies heavily on China. It’s been estimated that China imported 89% of Iranian oil in February 2024.

Israel’s stunning attacks on Iran’s nuclear program and military leadership are embroiling the Middle East in another deadly war — and could imperil President Donald Trump’s pledge to slash oil prices for American consumers.

Israel and Iran launched fresh attacks on each other overnight into Sunday, killing scores. "Iran and Israel should make a deal, and will make a deal," Trump said on Truth Social, adding that "we will have PEACE,

President Donald Trump said the United will come down on Iran “at levels never seen before” if the Middle Eastern country attacks.