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U.S. Officials Say Iran’s New Supreme Leader Gravely Wounded Amid Escalating Conflict

Protesters hold posters of Iran's late Supreme Leader Ayatollah Ali Khamenei and his son, Iran's new Supreme Leader Mojtaba Khamenei, during a protest marking al-Quds Day (Jerusalem Day), after Friday prayers at Fatih Mosque in Istanbul. U.S. Defense Secretary Pete Hegseth has confirmed that Iran’s newly appointed Supreme Leader, Mojtaba Khamenei , was seriously wounded and likely disfigured during the opening phase of U.S. and Israeli military strikes. Speaking at a Pentagon briefing, Hegseth described Iran’s leadership as “desperate and hiding,” asserting that Khamenei has gone underground following injuries sustained in the attacks.  Reports from multiple outlets indicate that Khamenei has not appeared publicly since the conflict began, fueling speculation about the severity of his condition. Some accounts suggest he may have suffered catastrophic injuries, including the loss of a limb and a possible coma, after an airstrike that also killed members of his family.  U.S....
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Markets Surge as Iran-Israel Ceasefire Calms Global Tensions

Global markets rallied Tuesday morning following the announcement of a ceasefire between Iran and Israel, easing fears of prolonged conflict in the Middle East. U.S. President Donald Trump confirmed the truce via social media, stating, “THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!”

The news sent global equities soaring, with Asia-Pacific shares outside Japan jumping over 2%, and European indices like the Stoxx 600 gaining 1.3%. U.S. futures also pointed higher, with Nasdaq futures up 1.3% and S&P 500 futures rising 1%.

Meanwhile, oil prices tumbled as concerns over supply disruptions through the Strait of Hormuz subsided. Brent crude dropped nearly 3% to around $69.40 a barrel, while West Texas Intermediate fell to $66.48. Analysts noted that the rapid de-escalation erased much of the risk premium built into oil prices over the past week.

The ceasefire follows a tense 12-day conflict that included U.S. strikes on Iranian nuclear facilities and a limited Iranian response. With both sides signaling a pause, investors shifted focus back to economic fundamentals and upcoming central bank decisions.

As geopolitical risk recedes, attention now turns to Federal Reserve Chair Jerome Powell’s testimony before Congress, where markets will be watching for clues on potential interest rate cuts later this year.

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