Global equity markets have suffered a catastrophic rout, with major indices shedding more than 30% in value following overnight military strikes between the United States and Iran.
The sudden escalation has triggered a broad-based flight to safety, wiping out years of gains across technology, energy, and industrial sectors in a matter of hours.
The scale of the decline suggests a repricing of geopolitical risk that extends far beyond the immediate conflict zone, as investors grapple with the potential for supply chain disruptions and energy market shocks.
The market reaction has been swift and severe, with volatility indices spiking to multi-year highs.
Trading volumes have surged as algorithmic selling and margin calls exacerbated the downward pressure.
While some sectors, such as defense and gold, have seen relative outperformance, the broader market sentiment is one of acute distress.