The escalating conflict between Israel and Iran has raised concerns among many countries about the imminent outbreak of war. Despite the lack of support from the United States for Israel’s retaliation, the Israeli wartime cabinet decided yesterday (15th) to take retaliatory action against Iran.
Timeline of the Conflict:
On April 13th (local time), Iran launched an attack on Israel.
On April 14th (local time), tension escalated globally, and the United States intervened to mediate.
Gold surged, while US stocks and the cryptocurrency market experienced a significant decline.
The conflict between Israel and Iran is becoming increasingly severe, and countries around the world are worried that war is on the brink of breaking out. Despite the lack of support from the United States for Israel’s war efforts, the Israeli wartime cabinet decided on the 15th to retaliate against Iran.
Herzi Halevi, Chief of the General Staff of the Israel Defense Forces, stated during an inspection of the Geneva Court military base in southern Israel:
“We are determined to retaliate against Iran.”
Additionally, Daniel Hagari, spokesperson for the Israeli military, stated through a declaration:
“The Israeli military is ready to respond to Iran.”
It is evident that Israel is determined to retaliate against Iran. On the 13th, Iran launched a large-scale missile and drone attack on Israel. Israel intercepted 99% of the attacks through its anti-aircraft interception system, with only a few casualties. Iran stated that this event was in retaliation for Israel’s attack on the Iranian embassy in Damascus earlier this month.
On the 14th, the United Nations Security Council held an emergency meeting regarding Iran’s attack. UN Secretary-General Antonio Guterres warned countries not to retaliate against Iran and emphasized that the Middle East region, or the world as a whole, cannot afford more wars. On the other hand, Israeli Prime Minister Benjamin Netanyahu initially decided to launch an attack on Iran but canceled the plan after a conversation with US President Biden.
Prior to the weekend attack by Iran, US officials had revealed that Iran was about to attack Israel. As a result, the four major US stock indices had a decline of over 1% before the close on the 12th. Philadelphia Semiconductor Index plummeted by 3.29%. Yesterday (15th), Israel’s decision to retaliate against Iran further contributed to the decline in the stock market. In addition, last Friday (12th), the international gold price briefly surpassed $2,400 per ounce, reaching a new record high.
Furthermore, the cryptocurrency market has also been affected by the conflict. Bitcoin plummeted from its high of $71,230 on Friday (12th), reaching a low of $60,000 in the early hours of Sunday (14th), with a highest decline of over 15% within two days. Some netizens helplessly commented, “Israel has an air defense system, but my wallet doesn’t,” “You fight, I’ll pay,” “Do I need to pay a fee to log in to the exchange? Why does my assets decrease every time I log in?”
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