Iran could be nearing an attack on Israel with ballistic missiles, according to a new report. The attack would come as retaliation against Israel for an airstrike attack that killed Hezbollah leader Hassan Nasrallah.
What Happened: Tensions have been increasing in the Middle East, which has led the United States to boost its military presence in the region in case of attack escalations.
On Tuesday, the United States said they believe Iran will attack Israel with ballistic missiles imminently, as reported by Bloomberg.
The United States is preparing to help defend Israel from any attack, which could escalate tensions between America and Iran.
Israel has started deploying forces into southern Lebanon as it intensifies its operations against Hezbollah.
Market Reaction: News of a potential escalation in the Middle East region has caused the markets to react intensely.
The price of gold and oil both spiked higher after the report.
- The United States Oil Fund (NYSE:USO) is up 3% to $71.93 on Tuesday.
- The SPDR Gold Trust (NYSE:GLD) is up 1% to $246.23.
News of the imminent attacks sent the SPDR S&P 500 ETF Trust (NYSE:SPY) lower by 1% to $567.77 on Tuesday. The ETF has hit new all-time highs in recent days and had a positive return in September for the first time in five years.
Other market indexes are also trading lower Tuesday on the new report.
The SPDR Dow Jones Industrial Average ETF (NYSE:DIA), which tracks the Dow Jones Industrial Average, is down 1% to $419.84.
The Invesco QQQ Trust (NASDAQ:QQQ), which tracks the Nasdaq 100, is down 2% to $479.87.
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