The war has exacerbated Iran’s economic crisis, forcing many to cross the border into Turkey to buy the most basic goods.
Stocks may be soaring again, but the war in Iran has started to pinch the finances of many Americans.
The conflict in the Middle East has left the Federal Reserve braced for higher inflation, with more officials open to the possibility of rate increases.
The average rate on a 30-year mortgage in the United States jumped to 6.46 percent, making it harder for buyers to afford homes.
The effects of the war in Iran are squeezing consumers, businesses and governments around the world, raising the prices of many essential goods.
The war in the Middle East risks worsening an inflation problem that the Federal Reserve has struggled for years to subdue.
Investors now expect that the Fed will delay a rate cut until September instead of July, as they had before the war in Iran began.
Energy prices continued to rise on Tuesday as attacks by the United States and Israel on Iran intensified, along with the country’s response.
Stock markets rose even as the fighting between the two countries continued into its fourth day.