With US unleashing attacks, Iranian official threatens that the Islamic Republic will deliver a 'hard slap'

Following U.S. Central Command (CENTCOM) strikes against Iran, Iranian officials issued threats of retaliation. Ebrahim Rezaei, a member of Iran's Parliament, warned of a "hard slap" from Iranians, while Parliament Speaker Mohammad Bagher Ghalibaf stated, "if you strike, you'll get hit." These statements came after CENTCOM announced additional strikes on July 8th to degrade Iran's ability to threaten freedom of navigation in the Strait of Hormuz, citing Iran's recent aggression against commercial shipping. CENTCOM reported striking approximately 90 Iranian military targets, following earlier strikes on July 7th that hit around 80 targets, including IRGC boats. President Donald Trump also declared the U.S.-Iran ceasefire agreement "over." Additionally, Kuwait and Bahrain reported intercepting Iranian drone and missile attacks.

The US military conducted strikes on Iran for a second day, following an attack on three cargo ships in the Strait of Hormuz. President Trump stated that an interim agreement to end the war was "over" and that Iran was "behaving very badly," accusing them of launching drones and missiles. These renewed hostilities have led to a jump in oil prices and a lowered global economic growth forecast by the IMF, with tanker traffic through the Strait of Hormuz reportedly halted. In Maine, Democratic Senate nominee Graham Platner suspended his campaign after sexual assault allegations, prompting Democrats to select a replacement. Separately, the family of a Mexican immigrant fatally shot by an ICE agent in Texas is calling for an independent investigation into the incident.

The United States has launched further strikes on Iran, with explosions reported in the country's south, including port cities on the Strait of Hormuz. President Donald Trump stated these actions are retribution for Iran's alleged bombing of ships the previous day, warning of escalating consequences if such attacks recur. US Central Command confirmed the strikes aimed to degrade Iran's ability to threaten freedom of navigation in the waterway and hold Iran accountable for recent aggression against commercial shipping. Iranian state media reported multiple explosions in Bandar Abbas and missile strikes on ports in Sirik and Jask. Senior Iranian officials had previously vowed an immediate response to any US attack.

Oil prices surged as renewed hostilities between the United States and Iran impacted the Strait of Hormuz. Brent crude rose above $76 a barrel for the first time in two weeks after the US launched strikes on Iran and revoked a temporary waiver of sanctions on Iranian oil. This action followed attacks on three commercial vessels in the Strait of Hormuz, which US, Qatari, and Saudi officials blamed on Iran. US Central Command stated the strikes were to impose costs for targeting commercial shipping. Iran's Deputy Foreign Minister described the sanctions waiver revocation as a violation of a previous memorandum of understanding and warned of decisive actions to safeguard national interests.

Oil prices surged over 3% on Wednesday following U.S. strikes on Iran, which were launched after Iran reportedly attacked three ships in the Strait of Hormuz. Asian shares experienced mixed trading, with markets in Greater China rising while others like Tokyo and Seoul saw declines. South Korea's Kospi index, which had previously soared, fell significantly due to heavy selling in AI-related tech stocks such as Samsung Electronics. Concerns about the high valuations of AI stocks and their potential to justify massive investments in chips and data centers continue to impact market sentiment globally. In other trading, the U.S. dollar strengthened against the Japanese yen.

US stock markets declined on Wednesday due to ongoing US strikes on Iran and concerns from the Federal Reserve about potentially higher interest rates. President Trump declared the Iran-US ceasefire over, leading to a sharp rise in oil prices, with Brent crude exceeding $80 a barrel. The Dow Jones Industrial Average fell 1.09%, while the S&P 500 experienced a slight loss and the Nasdaq saw a minor gain. Global stock markets also saw declines. The Federal Reserve's meeting minutes indicated that some officials believe interest rates may need to increase to combat rising inflation, which reached a three-year high of 4.2% in May. This situation presents a challenge for the Fed chair, who was nominated by President Trump, who has publicly called for lower interest rates.

The United States conducted a second night of air attacks on Iran, targeting military sites in Tehran and southern cities. These strikes, which killed at least 14 people, were a response to Iran's earlier attacks on commercial ships in the Strait of Hormuz. US Central Command stated the aim was to degrade Iran's ability to attack shipping. Despite the escalation, neither side has officially ended an interim peace agreement, though President Trump suggested it was "over." The tit-for-tat strikes have significantly slowed shipping traffic in the Strait of Hormuz, trapping thousands of sailors. The attacks occurred during the funeral of Iran's late Supreme Leader, Ayatollah Khamenei.

Following deadly US attacks on Iran that reportedly killed at least one person and caused power outages, sirens sounded across Bahrain and Kuwait, with warnings also issued in Qatar. In Qatar, residents were advised to stay indoors and away from windows until the danger passed. Kuwait's defense ministry reported intercepting drones and missiles, urging citizens to take precautions and noting that any explosions were due to these interceptions. Bahrain's interior ministry also issued an alert. Countries in the Gulf region are preparing for potential retaliatory attacks, as is common after US strikes on Iranian targets. Iran claims to be targeting the sources of attacks on its territory, a stance that has caused contention and anger in Gulf nations who state they are not involved in the conflict.

The United States conducted new strikes on Iran on Wednesday in response to Iranian attacks on ships in the Strait of Hormuz. President Donald Trump ordered the retaliation, stating his expectation for the military escalation to conclude swiftly and indicating a willingness for further discussions. U.S. Central Command (CENTCOM) confirmed the strikes were aimed at diminishing Iran's capacity to jeopardize freedom of navigation in the strait, a vital waterway for global energy transport. The article does not provide further details on the specific nature or targets of these strikes.