Futures Tumble, Oil And Gold Soar On Reports Of "Huge Explosions" In Central Iran, Israeli Airstrikes In Iraq And Syria

And just like that, Israel - having once again ignored Biden's pleadings not to escalate the already tense situation - is retaliating against Iran's weekend strike.

Moments ago futures dumped, oil prices spiked, and treasury yields slumped amid social media reports and Reuters headlines that there have been three "huge explosions" near the central Iran cities of Natanz (location of an Iranian nuclear power plant) and Isfahan (location of the Iranian Nuclear Technology Center which is suspected of being the center of Iran's nuclear weapons program), as well as simultaneous explosions in Iraq and Syria, where the Israel air force appears to be targeting pro-Iranian militias.

• IRANIAN MEDIA: 3 HUGE EXPLOSIONS WERE HEARD IN ISFAHAN, SOUTH OF TEHRAN
• JERUSALEM POST: SIMULTANEOUS EXPLOSIONS REPORTED IN IRAN, SYRIA, AND IRAQ ACCORDING TO INITIAL REPORTS

A video of the explosions in Iran:

There have also been reports of drone activity over Iraq:

Flights above central Iran are diverting from their designations:

... as the airspace over the region is rapidly clearing:

The market reaction has been immediate, with S&P futures dumping...

... oil jumping...

... and gold surging...

...as traders brace for the worst, because even if Israel hopes to present a "measured" retaliation, now it's a question of what Iran will do next.

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