On July 28, Iran’s Islamic Revolutionary Guard Corps launched ballistic missiles toward a U.S. military base near Jordan’s Muwaffaq Salti Air Base. The attack, described by U.S. Central Command as a "surprise attempt," saw all missiles intercepted by Patriot air-defense systems, preventing casualties.
The Immediate Impact on Markets
The missile strike rattled global markets within hours. West Texas Intermediate crude oil jumped 3.95 percent, reaching $83.08 per barrel, while Brent crude climbed 3.86 percent to $87.34. This rapid increase highlights how geopolitical tensions in the Middle East continue to influence energy prices sharply. Meanwhile, equity futures reacted cautiously. Dow Jones futures edged higher by 63 points, the S&P 500 gained 26 points, and Nasdaq 100 futures climbed nearly 133 points as investors weighed the renewed risks.
Cryptocurrency Under Pressure
Bitcoin’s rally faced a significant test as prices dipped toward $63,700 following the strike but later rebounded to around $64,500. This volatility shows how fragile crypto markets remain in the face of geopolitical shocks, especially amid a backdrop of recent diplomatic pauses and flare-ups in the region. The missile assault was the first since President Trump halted offensive strikes to encourage diplomacy, yet tensions have continued with previous incidents, including a deadly July 18 attack on Jordan’s Al Azraq air base that killed two American soldiers.
Jordan’s military also intercepted some incoming projectiles this time, reporting no damage or injuries on its territory. Iran justified the strike as retaliation against what it called "illegal and malicious actions" by Washington, signaling a persistent cycle of tit-for-tat confrontations that challenge market stability.
This material is for informational purposes only and does not constitute financial advice.
