Russian ballistic missiles struck multiple Ukrainian cities on July 30, killing at least seven people and injuring many more. One fatality occurred in Kyiv. The attacks extended westward to Lviv, near the Polish border, marking an escalation in the conflict's geographic reach.
Poland scrambled fighter jets to patrol its airspace, a standard procedure when Russian missiles approach its border. Ukrainian President Volodymyr Zelenskyy condemned the attacks as a deliberate act of terror against civilians and urged international partners to provide additional air defense systems.
The strikes drove global markets lower. The Dow Jones Industrial Average dropped 2.2 percent to 51,594, while the S&P 500 fell 1.5 percent to 7,316. Nvidia fell 3.6 percent to $190.01 and Tesla dropped 3.0 percent to $298.32.
Nations bordering Ukraine, including Poland and Romania, have increased defense spending by an average of 15 percent over the past year, a surge that benefits major defense contractors, though specific contract details have not been disclosed.
U.S. and European officials are assessing the economic fallout, particularly for energy markets. Disruptions in the Black Sea region continue to affect grain exports, pushing global food prices higher. NATO Secretary General Jens Stoltenberg said the alliance remains committed to the security of its member states, citing Article 5 of its founding treaty.
The attacks are expected to intensify discussions among G7 leaders on further sanctions against Russia and increased military aid to Ukraine. A special session of the United Nations Security Council is scheduled for Aug. 1 to address the escalating situation.
