Global air traffic has been disrupted following Israel’s strikes on Iran Friday, with several major airlines suspending flights to and from locations in the Middle East and rerouting their planes to avoid much of the region’s airspace.

Israel’s attack on Iran has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households.

What Happened in Markets Today Israel launched a broad air campaign against Iran, targeting its nuclear capabilities and military/political leadership. Markets were rattled after Israel said it had detected dozens of missiles launched from Iran and was working to intercept them.

President Donald Trump has repeatedly demanded the Federal Reserve slash interest rates. But Fed officials have stood pat, waiting to see how his administration’s sweeping policy changes affect the economy first.

President Donald Trump confirmed on Wednesday that U.S. personnel are being "moved out" of parts of the Middle East amid escalating tensions with Israel and Iran.

FILE PHOTO: France's President Emmanuel Macron, Britain's Prime Minister Keir Starmer and Germany's Chancellor Friedrich Merz speak during a Ukraine security meeting at the 6th European Political Community summit on May 16, 2025 at Skanderbeg Square in Tirana, Albania. Leon Neal/Pool via REUTERS/ File Photo

The US State and Defense departments on Wednesday made efforts to arrange the departure of non-essential personnel from locations around the Middle East, according to US officials and sources familiar with the efforts.

London's FTSE 100 retreated on Friday after closing at a record high in the previous session as Israel's attacks on Iran ramped up geopolitical tensions, but gains in energy stocks limited declines. The benchmark FTSE 100 was down 0.