The US and Israel’s war against Iran escalated Sunday as Washington and Tehran ramped up threats to target civilian infrastructure.
President Donald Trump said the US would “obliterate” Iranian power plants if Tehran did not fully reopen the Strait of Hormuz within 48 hours.
Iran responded by threatening to target energy facilities and water desalination plants across the region.
Trump’s ultimatum came as Iran launched one of its most intense attacks on Israel since the war broke out, while the risk of an expanding war grew: Iran fired its first known long-range ballistic missiles toward a US-British Indian Ocean base on Friday.
Markets are facing a “ticking time bomb of elevated uncertainty,” one analyst said.