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Global financial markets have been shaken by escalating conflict in the Middle East, with Asian stocks suffering significant losses and oil prices rising on fears that the US-Israel war with Iran may become prolonged.

South Korea's benchmark KOSPI index closed 12% lower on Wednesday, marking one of its worst days in decades. Trading was temporarily halted after the index plunged more than 8%, triggering circuit breakers designed to prevent panic selling. Japan's Nikkei 225 fell 3.6%, while Hong Kong's Hang Seng declined 2.5%.

The market chaos reflects increasing investor concern about an energy shock that could fuel inflation. Brent crude increased 2.5% ...

Republican Representative Dan Crenshaw has lost his Texas primary to state Representative Steve Toth, becoming the first incumbent member of Congress to be defeated in the 2026 midterm election cycle.

Toth successfully framed the four-term incumbent as insufficiently conservative and not aligned enough with President Donald Trump's America First agenda. Crenshaw was the only GOP House member seeking re-election in Tuesday's Texas primaries who did not receive Trump's endorsement.

The primary contest focused on Crenshaw's past criticism of Trump's refusal to accept the 2020 election results and his support for aid to Ukraine, positions that drew opposition from conservative activists. Despite Crenshaw's ...

An Israeli air strike targeted Iran's Assembly of Experts building in Qom, south of Tehran, causing significant destruction.

The Assembly of Experts is a high-ranking political and religious body made up of senior clerics responsible for selecting, supervising, and potentially dismissing Iran's Supreme Leader. The strike hit the building as this body plays a crucial role in the succession process following the assassination of Supreme Leader Ali Khamenei.

The attack marks a significant escalation in the ongoing conflict between Israel and Iran, targeting not just military infrastructure but also a key institution of Iran's governance. Qom, a holy city and major centre ...

Spain has firmly rejected President Donald Trump's threat to halt all trade with the country after its refusal to allow US military bases in Spain to be used for strikes against Iran.

The dispute escalated when Prime Minister Pedro Sánchez condemned the US-Israeli attacks on Iran as a breach of international law and called for dialogue. Spanish Foreign Minister José Manuel Albares later clarified that the jointly operated bases at Rota and Morón are under Spanish sovereignty and "will not be used for anything not included in the agreement with the United States, or for anything that is not in accordance ...

Former Labour leader Jeremy Corbyn has criticised US military action against Iran, warning that the situation could escalate into a wider regional conflict. In broadcast interviews and public statements, Corbyn described the developments as “an incredibly difficult situation” and reaffirmed his longstanding anti-war stance.

In media appearances, including a radio interview and televised comments, Corbyn condemned the US bombing of Iran and criticised former President Donald Trump’s approach to the Middle East. He argued that further military escalation would heighten instability and civilian suffering, and he called for urgent diplomatic efforts rather than continued airstrikes.

Corbyn stated that the UK government should ...

First Lady Melania Trump presided over a United Nations Security Council meeting on children and education in conflict on 2 March, delivering a humanitarian message that intersected with the escalating US-Israeli military action in Iran. Her appearance marked the first time a spouse of any world leader has chaired a Council session.

Speaking as the US holds the rotating monthly presidency, Trump focused her remarks on the importance of protecting education and children's welfare during wartime. "The US stands with all of the children throughout the world," she said. "I hope soon peace will be yours." She also offered condolences to ...

Secretary of State Marco Rubio revealed that the timing of US military strikes on Iran was directly influenced by a planned Israeli attack, a rationale that sparked sharp debate during a classified Congressional briefing on 2 March.

Speaking to reporters after the closed-door session with CIA Director John Ratcliffe and Joint Chiefs Chair Gen. Dan Caine, Rubio explained that Washington was aware Israel intended to launch its own operation. He stated that US intelligence indicated Iran would retaliate against American interests regardless of who carried out the initial strikes.

"We knew that there was going to be an Israeli action," ...

Defence Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine held a Pentagon press conference on March 2 to address the widening US-Israeli conflict with Iran, seeking to reassure Americans while acknowledging the operation's gravity. Hegseth stressed the administration is wary of comparisons to past Middle East wars, declaring, "This is not Iraq. This is not endless."

The briefing confirmed Operation Epic Fury's objectives: eliminating Iran's ballistic missile capability, destroying its navy, and ensuring it cannot obtain nuclear weapons. Hegseth denied the mission is "regime change," though he noted "the regime sure did change" following the strike that killed Supreme ...

The Pentagon has given its first detailed public briefing on the ongoing US military operation against Iran, with Defence Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine outlining the strategy and aims while warning that the conflict will not end quickly.

"We didn't start this war but under President Trump we're finishing it," Hegseth told reporters on March 2, framing the action as a response to years of Iranian attacks on US interests. The briefing confirmed the operation is called "Epic Fury" and began after President Trump gave final approval on Friday at 3:38 p.m. ET, authorising more than ...

A new and devastating front has opened in the expanding Iran-Israel conflict, with Israeli airstrikes on Beirut and southern Lebanon killing at least 31 people and injuring 149 others, according to Lebanon's health ministry. The strikes on Monday, 2 March 2026, have caused mass displacement, with thousands of civilians fleeing their homes in the southern suburbs of Beirut and villages in the south.

The escalation followed Hezbollah's launch of missiles and drones towards Israel, a direct retaliation for the killing of Iran's supreme leader, Ayatollah Ali Khamenei, in earlier US-Israeli strikes. The militant group's intervention dramatically widens the conflict, which began ...