3 ballistic missiles targeted Riyadh area

The reported targeting of Riyadh with ballistic missiles escalates geopolitical tensions in the Middle East, potentially disrupting oil supplies and increasing global market uncertainty. This could lead to higher oil prices and a flight to safe-haven assets, while negatively affecting stock indices and risk-sensitive currencies. Overall, investors should remain cautious as such events often introduce short-term volatility without necessarily altering long-term fundamentals.