How the US-Israel-Iran conflict may impact markets and practical portfolio moves to help investors stay disciplined and informed. What happened? Over the weekend of 28 February 2026, the United States and Israel carried out coordinated military strikes on Iran. US President Donald Trump said the operation was intended to “eliminate imminent threats from the Iranian regime.” Iranian state media later confirmed that Supreme Leader Ayatollah Ali Khamenei was killed in the attacks. Iran has since responded with retaliatory strikes across the region. Saudi Arabia, Bahrain, Kuwait and Qatar have reported incoming missiles, drones or explosions. President Trump has indicated that combat operations could continue for four to five weeks, raising the risk of a prolonged escalation. Financial markets have reacted swiftly to the headlines. Across Asia, major indices moved lower, with Japan’s Nikkei down 1.35%, Singapore’s Straits Times Index falling 2.32%, and Hong Kong’s Hang Seng Index declining 2.14%. U.S. equity futures slipped in overnight trading, European markets opened in the red, and...