Degrading Iran's nuclear and military capabilities is good for geopolitical stability, which would be good for markets, Eisman said.

President Trump left the G7 in Canada early to work on the Middle East, saying he was working on something “[much bigger](

Russia is watching Israel’s bombardment of Iran with mounting concern for the survival of a key ally, though the Kremlin recognizes it has few levers to influence the escalating conflict in the Middle East.

The sharp pullback came as global investors reacted to headlines of escalating military conflict in the Middle East, with Israel and Iran trading lethal missile barrages. US crude climbed 1.21% to $72.64 per barrel, extending gains from last week as markets priced in potential disruptions to energy supply chains.

Israel said Tuesday that they killed Iran’s wartime chief of staff Maj. Gen. Ali Shamdani, a close ally of Iranian Supreme Leader Ayatollah Ali Khamenei.

Israel stunned Iran last week with an intelligence and military operation years in the making that struck high-level targets with precision.

We are doing what we need to do,” the Israeli leader told ABC News when asked if he plans on going after Ayatollah Ali Khamenei.

Israel has carried out strikes against Iran's ability to retaliate for attacks on its military establishment and nuclear program