Iran launches missiles into Tel Aviv

Geopolitical Event - Iran launched missiles into Israel, prompting Israeli Defense Response (Iron Dome) [1] - Israeli military was aware of the impending attack and had alerted the public [2] - Air raid sirens sounded in Tel Aviv and Jerusalem [3] - Previous similar missile barrage from Iran was largely intercepted [4] - Israel launched a surprise attack on Iranian assets the night before [4] - Iran was perceived to be forced to respond to save face after the attack on its assets [5] Market Reaction - The Dow Jones Industrial Average was down approximately 720 points [7] - Typically, such scenarios lead to a flight to safety for the dollar, but the dollar index did not significantly increase [7][8] - The 10-year Treasury yield was slightly higher than before the airstrikes, which is unusual [8] - Gold prices were up 1.5%, less than expected in such a scenario [9] - Oil prices initially spiked but then settled to an increase of almost 8% or $5 to $7327, Brent crude is up about 7.5% [6][11] - Natural gas prices increased by 2% [12] - The stock market moved back towards session lows [12]