US says it struck Iranian military sites, Tehran responds with air base attack - Reuters
Geopolitics
The US has struck Iranian military sites and Iran has retaliated with an air base attack, marking a sharp escalation in direct military confrontation between the two nations. This creates a classic risk-off flight setup — oil spike, defense bid, broad equity sell-off — with tail risk of further escalation dominating near-term price action.
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Angle
↔ PAIR+8% target-4% stop1-2 weeks tactical, reassess on ceasefire signals
Long USO and defense names (LMT, RTX) on direct US-Iran military exchange; short SPY on escalation tail risk.