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Sh*t has officially hit the fan.

Last night Iran claimed responsibility for ballistic missile attacks on two airbases in Iraq where US forces are stationed. Cue the #WWIII memes. 

The attacks are retaliation against last week's killing of Iranian Major General Qasem Soleimani at Baghdad International Airport by a US drone.

In case you have been living under a rock, Soleimani was linked to multiple attacks on US troops. Iran vowed to avenge the military leader's death and it appears to have followed through ... with literally "tens of missiles." *US shudders*

The fallout

Stock futures tumbled as much as 400 points late Tuesday but recovered as the evening went on. Still, markets are expected to open lower. Unsurprisingly, defense stocks (think: Stark Industries) rose after hours.

Meanwhile, gold jumped 2% as investors sought out safer asset classes. Super original, you guys.

And black gold rose more than 4% overnight as fear of Iranian retaliation against oil infrastructure in the region persists.

Global impact

But wait, there's more!

Asian markets also felt the blow, as the Nikkei fell 2% after news of the attack. The Japanese Yen, which is also considered a safe haven, strengthened against the US Dollar, up 0.6% on the news. 

The bottom line ...

It is unclear whether this attack was "the" retaliation, or if more is coming. At this time, no US casualties have been reported and POTUS claimed that "All is well!" via twitter ... as if he was casually replying to a half-hearted "How are things?" email.

Iran Fires Missiles at U.S. Forces in Iraq  [WSJ]



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