WASHINGTON — President Trump authorized U.S. military strikes against targets across Iran early Thursday, a sharp escalation in Middle East tensions. The Pentagon confirmed multiple facilities were hit, including missile sites, drone storage depots and command centers in three distinct regions. The action follows weeks of heightened rhetoric from Washington over Iranian proxies operating in the Red Sea and Gulf of Oman, which have disrupted global shipping routes.
Global oil prices surged immediately following the news, with Brent crude futures jumping more than 4 percent in early trading. The Dow Jones fell 1.0 percent to 51,712 points, and the S&P 500 dropped 1.2 percent to 7,408 points. Investors fled tech stocks, with Amazon falling 4.6 percent to $233.66, Alphabet dropping 7.1 percent to $317.69 and Meta down 3.4 percent to $606.10.
Secretary of State Mike Pompeo said the strikes were "defensive and proportionate" at a White House press briefing. The action signals a firm stance from the Trump administration on maritime security, a priority for U.S. allies Saudi Arabia and Israel and for the global flow of energy resources.
Defense contractors stood to benefit. Shares of Lockheed Martin rose 3.2 percent in pre-market trading on expectations of increased military spending. Shipping insurance premiums for vessels transiting the Strait of Hormuz are expected to rise sharply, increasing costs for oil and gas transit and pushing up consumer prices worldwide.
Congressional reaction was divided. House Speaker Kevin McCarthy said the administration had "briefed us on the necessary steps" and supported the decision to protect U.S. interests. Sen. Elizabeth Warren expressed concern about the potential for wider conflict and regional destabilization without explicit congressional approval.
