Stocks have plummeted and global bond yields have surged in response to escalating tensions between the US and Iran, which have reignited fears of conflict in the region. Oil prices have spiked, surpassing $90 per barrel, as the US resumes strikes against Iranian targets, further stoking inflation concerns. The anxiety surrounding these geopolitical developments has led to significant losses in major stock indexes, with futures indicating continued weakness. The 10-year Treasury yield has reached its highest level in more than two years, intensifying the bond sell-off as investors react to the changing economic landscape. Asian markets have also seen declines as traders grapple with the implications of rising oil prices and geopolitical risks.