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Iran targets Israel and Gulf states after denying Trump claim of talks

Smoke rose from central Tel Aviv as Iranian missiles and drones targeted Israel and Gulf Arab states Tuesday, even as US President Donald Trump said the US was in talks with the Islamic Republic to end the war. Trump also delayed a deadline for Iran to open the strategic Strait of Hormuz for shipping or see its power stations targeted by air strikes, briefly driving down oil prices and boosting stocks. The delay offered a reprieve after the US and Iran traded threats over the weekend of strikes...

Mar 24, 2026 &03122424202631; 07:12 UTC www.scmp.com Trending 5/5

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Neutral impact

Sentiment score: -15/100

High impact Immediate effect (hours)

WHAT THIS MEANS

Iran launched missile and drone attacks on Israel and Gulf states amid geopolitical tensions, while Trump claimed ongoing talks and delayed sanctions threats. Oil prices initially fell on the delayed deadline, but geopolitical risk remains elevated with potential for renewed escalation.

AI CONFIDENCE

72% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

⇅

Oil (WTI Crude)

CL=FCommodity

High volatility expected

Oil prices initially fell on Trump's delayed deadline threat, but geopolitical risk premium remains; Strait of Hormuz disruption risk is material

↑

S&P 500

^GSPCIndex

Expected to rise

Short-term relief from delayed sanctions and talk of negotiations, but fragile given ongoing military escalation

⇅

Euro / US Dollar

EURUSDCurrency

High volatility expected

Safe-haven flows and geopolitical uncertainty; EUR weakness likely if risk-off sentiment intensifies

↓

Euro Stoxx 50

^STOXX50EIndex

Expected to decline

European equities more exposed to energy shocks and Middle East escalation risk than US markets

↑

Gold Futures

GC=FCommodity

Expected to rise

Safe-haven demand from geopolitical tensions supports gold prices

PRICE HISTORY

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⚡ SUGGESTED ACTION

Avoid chasing the initial stock rally on talks narrative—this is a classic risk-off/risk-on whipsaw setup. Position defensively: long gold, short energy-heavy European indices, and monitor CL=F for Strait disruption signals. The delayed deadline is a temporary reprieve, not a resolution.

KEY SIGNALS

Active military escalation contradicts diplomatic narrativeTrump's delayed deadline is tactical posturing, not resolutionStrait of Hormuz remains critical chokepoint with 20% global oil transitMarket relief is premature; escalation risk remains highDivergence between US equity relief and European caution

SECTORS INVOLVED

EnergyDefenseFinancialsUtilities

Analysis generated on Mar 24, 2026 at 07:48 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by SCMP Business. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Iran targets Israel and Gulf states after denying Trump claim of talks

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