Stocks have tumbled while the dollar strengthens as the ongoing conflict between Israel and Iran escalates, triggering heightened safe-haven trading. Oil prices have surged, rising over 1% as Israel intensifies its military actions in the region, raising concerns about global supply disruptions. U.S. stock markets have reacted negatively, with significant declines in major indices like the Dow and S&P 500, amid fears of potential U.S. involvement and rising inflation linked to energy prices. Analysts express caution regarding the impact this geopolitical crisis could have on the global economy, suggesting that the ramifications could extend well beyond immediate market fluctuations. Local gas prices are also anticipated to increase significantly as tensions continue to mount in the Middle East.