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Risk sentiment remains cautious as Trump called for the evacuation of Tehran. Despite this, global equities have remained resilient so far, as past instances of geopolitical tension have generally been contained.

Risk sentiment remains cautious amid the escalating conflict between Israel and Iran, though equities have remained resilient so far, with the S&P 500 trading around 6,000.

The Israeli strike on Iran was the major headline overnight. Crude oil jumped 9% on the news—the biggest move in more than three years. Iran had previously announced plans to inaugurate a new uranium-enrichment facility in response to censure by the UN atomic watchdog over its nuclear program.