âThe war in the Middle East is having an extreme impact on the global economy. Asian markets rose sharply early on Wednesday after US stocks soared to their best day in almost a year on renewed hopes that the Iran war could soon end. 4% in early trading, while Tokyoâs Nikkei 225 rose 4%. Thousands of additional US troops are heading to the Middle East. The aircraft carrier USS George HW Bush deployed on Tuesday and is slated to travel to the region along with three destroyers, two US officials said.
The Israeli military said on Wednesday it had identified the launch of a missile from Yemen towards Israel. Iranâs state broadcaster IRIB said areas in northern, eastern and central Tehran were under attack on Wednesday morning. A drone attack has sparked a large fire at Kuwait international airport, according to its state news agency, which said no casualties had been reported, while in the last few hours Saudi Arabia has said it intercepted and destroyed two drones. Bahrain also said early on Wednesday that it was working to extinguish a fire at a business facility that resulted from an Iranian attack. An American journalist has been kidnapped in Baghdad by a suspected Iranian-backed Iraqi armed group, the US said.
The Wall Street Journal is reporting that the United Arab Emirates is preparing to help the US open the strait of Hormuz by force. Citing Arab officials, the newspaper reported the UAE is lobbying for a UN security council resolution that would authorise such action. Continue reading...