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Iran fired hundreds of missiles in retaliation for Israel’s airstrikes that targeted Tehran’s military and nuclear infrastructure, broadening a conflict that threatens to engulf the region and roil global markets.

Israel said it identified missiles launched from the Islamic Republic and reported explosions from interceptions and falling debris from incoming projectiles. An Israeli official said US forces are helping to intercept the Iranian missiles. The Iranian attack, which Tehran said entailed hundreds of ballistic missiles, is the most forceful step yet by Tehran since Israel’s overnight raids killed top Iranian generals and badly damaged key military infrastructure.

While it’s unclear if Israel’s air defenses have been pierced, markets took another hit from the surge in tensions. US stocks fell to new session lows, oil prices extended their gains above 7%, while the US dollar and gold rose.
This episode features:

• Gregg Roman, Executive Director of the Middle East Forum
• Dana Stroul, Senior Fellow and Director of Research at the the Washington Institute for Near East Policy
• Jay Neveloff, Partner and Chair of Real Estate, US at Herbert Smith Freehills Kramer
• Elissa Sangster, Chief Executive Officer of the Forté Foundation