It's often more important in times of heightened tensions in the Middle East to look more at what is not happening, rather than fixating on the dramatic headlines of tit-for-tat air and missile strikes between Israel and Iran.

If prices go up, Fed officials may be inclined to raise its benchmark rate, raising borrowing costs for businesses and consumers. That could lead to businesses to cut jobs, particularly in the high-growth tech sector, and force Americans to pull back on spending, which drives more than 70% of economic activity in the U.S.

President Donald Trump has repeatedly demanded the Federal Reserve slash interest rates. But Fed officials have stood pat, waiting to see how his administration’s sweeping policy changes affect the economy first.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

Israel’s attack on Iran has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households

The UK Chancellor Rachel Reeves says the government will not ‘take anything off the table’ in response to the threat of rising energy costs

Deputy Prime Minister Richard Marles says it is “inevitable” Australians will pay more for fuel as the conflict between nuclear-armed Israel and Iran escalates.

The Israeli military warns Iranians to evacuate arms factories, signaling what could be a further widening of the campaign.

The US ordered some staff to leave its embassy in Baghdad, and restricted government employees and family members in Israel from traveling outside major cities like Tel Aviv. Around the same time, risk warnings from naval forces were issued to vessels operating in and around the Persian Gulf,