American Firepower
Markets responded with surprising composure following the United States’ bombing of Iran, an event that, under typical circumstances, might have triggered a broad risk-off reaction. Instead, when trading resumed on Monday morning, the S&P 500 closed 1% higher, while the Brent crude oil price declined. This resilience was likely due to Iran’s tempered response, which helped ease fears of broader conflict or the closure of the Strait of Hormuz.