Global Markets Brace as Khamenei's Death Ignites Iran-Israel War, Fueling Oil Volatility

Iran has retaliated with missile and drone attacks targeting Israel, regional U.S. bases, and several Gulf nations, including Bahrain. Israel has also reported bombing targets in Tehran.

China has strongly condemned the killing, calling it a violation of Iran's sovereignty. The U.S. Embassy in Jordan has issued a shelter-in-place order, and protests have erupted at U.S. diplomatic facilities in Pakistan, resulting in several deaths.

Iran's president and other officials have vowed revenge, calling the assassination a "legitimate duty" and a "declaration of open war." An interim leadership council has been formed in Iran, including President Mahmoud Pezeshkian and Ayatollah Alireza Arafi. The IDF claims to have killed 40 Iranian commanders in the strikes.

Incidents of drone debris causing minor injuries have been reported in Dubai and Abu Dhabi.