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Mojtaba Khamenei’s Rise Sparks Market Turmoil as Hardliners Mobilize

People attend a gathering to support Iran's new supreme leader Mojtaba Khamenei, amid the U.S.-Israeli conflict with Iran, in Tehran, Iran, March 9, 2026.  Iran’s hardline factions mounted a powerful show of support for newly appointed Supreme Leader Mojtaba Khamenei , rallying across Tehran in a display that signaled a tightening of conservative control and diminished hopes for de-escalation in the Middle East.  The demonstrations, marked by mass gatherings and imagery linking Mojtaba to his late father, Ayatollah Ali Khamenei, underscored the regime’s consolidation at a moment of heightened regional conflict.  Analysts warn that the hardliners’ unified backing suggests Iran is unlikely to soften its stance amid ongoing tensions with the U.S. and Israel. Global markets reacted sharply. Fears that prolonged instability could further disrupt energy supplies sent oil prices soaring and triggered steep declines in major stock indices. With one of the most significan...
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U.S. and U.K. Join Forces to Counter Houthi Threat in Red Sea


The U.S. and U.K. have launched a joint military operation against Houthi targets in Yemen, in an effort to prevent the rebel group from disrupting the vital shipping route in the Red Sea.

The strikes, which took place on Tuesday, marked the second major assault in a continuing bid to stop the Houthis from attacking ships transiting the Bab al-Mandeb Strait, a narrow waterway that connects the Red Sea to the Gulf of Aden and the Indian Ocean.

According to a statement from the U.S. Central Command, the operation targeted Houthi radar and missile sites, as well as weapons storage facilities and command and control centers. The U.K. Ministry of Defense said that British forces provided intelligence, surveillance and reconnaissance support, as well as aerial refueling for U.S. aircraft.

The U.S. and U.K. said that the strikes were carried out in response to the Houthi attacks on commercial and military vessels in the Red Sea, which pose a threat to regional stability and international trade. The Houthis, who are backed by Iran, have been fighting a Saudi-led coalition that supports the internationally recognized government of Yemen since 2015.

The U.S. and U.K. also reiterated their support for a political solution to the conflict in Yemen, and urged all parties to return to the UN-led peace talks. They said that they remain committed to the security and freedom of navigation in the Red Sea and the wider region.

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