Iran warns US and Israel of impending 'big surprise'

Financial outlets focus on how Trump’s infrastructure threats and Iran’s retaliation warnings are feeding fears of an energy shock and slower global growth. Markets are described as bracing for possible damage to oil facilities and shipping routes, with higher crude prices and rising US Treasury yields reflecting that concern. The IMF and other economic voices warn that the war involving Iran is already hurting the world economy and could worsen if infrastructure attacks begin.

• •The IMF chief has warned that the Iran war is pushing the global economy toward higher prices and slower growth.
• •Oil prices have risen as traders factor in the risk of US strikes on Iranian infrastructure and possible Iranian retaliation against regional energy assets.
• •US Treasury yields have climbed after Trump repeated his threat to hit Iranian infrastructure, signaling expectations of higher inflation or risk premiums.
• •Asian markets have traded nervously as investors brace for a possible US assault on Iranian civilian infrastructure.
• •Financial coverage links Trump’s ultimatum on civilian infrastructure to concerns about disrupted shipping through the Strait of Hormuz and other routes.