Developing: U.S. and Israel Launch Joint Military Strikes on Iran as Tehran Retaliates Across the Region
Key Takeaways
- The U.S. and Israel launched joint military strikes on Iran dubbed 'Operation Epic Fury,' with Trump confirming 'major combat operations' and calling for regime change.
- Iran retaliated by striking at least four U.S. military bases in the region, including one in Bahrain, with explosions reported across the Middle East.
- Financial markets face heightened volatility as the conflict compounds existing pressure from hot inflation data and a 500-point Dow decline the previous day.
- International reactions are sharply divided, with Russia condemning the strikes and European allies cautiously assessing the situation.
- The operation's scope and Trump's regime change rhetoric raise questions about whether this remains a limited strike or marks the beginning of a broader military engagement.
The United States and Israel launched a coordinated military operation against Iran on Friday, February 28, 2026, in what President Donald Trump described as the beginning of "major combat operations." The operation, codenamed "Epic Fury," represents the most significant direct U.S. military engagement with Iran in decades, targeting what officials described as the country's nuclear infrastructure and military capabilities.
Iran responded swiftly, launching retaliatory strikes against multiple U.S. military installations in the region. Iranian officials confirmed they had struck a U.S. base in Bahrain and launched attacks across the broader Middle East, with reports of at least four U.S. military bases being targeted. Explosions were heard across the region as the situation escalated rapidly through the day.
The strikes have sent shockwaves through global markets and diplomatic channels, with world leaders scrambling to respond. Flights across the Middle East have been cancelled and travel warnings issued as the conflict threatens to destabilize the entire region. Financial markets are bracing for significant volatility, with analysts warning of ramifications potentially exceeding previous geopolitical crises.
Operation Epic Fury: What We Know About the U.S.-Israeli Strikes
The joint U.S.-Israeli military operation began with coordinated strikes targeting Iranian military and nuclear infrastructure. According to multiple reports, the United States had positioned F-22 stealth fighters in Israel ahead of the operation, putting "almost any target in Iran at risk," according to Fox News reporting on the military deployment.
President Trump confirmed the operation in a formal statement, explicitly calling for regime change in Iran. "They can never have a nuclear weapon," Trump declared, while also urging Iranian citizens to "take over your government." The language marked a significant escalation in U.S. policy toward Tehran, moving beyond the containment approach of previous administrations.
The State Department had signaled preparations for the operation in the days leading up to it, authorizing non-essential U.S. Embassy personnel in Jerusalem to depart. Secretary of State Marco Rubio had traveled to Israel to discuss Iran and related issues, according to reports from multiple outlets. Defense Secretary Pete Hegseth separately made headlines by declaring Anthropic, the AI company, a "supply chain risk to national security" — a move that appeared connected to the broader military posture.
Iran's Retaliation and Regional Fallout
Iran's response was rapid and multi-pronged. Tehran confirmed it had struck a U.S. military base in Bahrain and launched strikes across the region, with reports indicating at least four U.S. military bases were targeted in the retaliatory wave. Explosions were heard across the Middle East as both sides exchanged fire in what became the most intense U.S.-Iran military confrontation in history.
The humanitarian and civilian impact began immediately. Airlines cancelled flights across the Middle East as airspace became increasingly dangerous. Multiple countries issued travel warnings for the region. In Israel, civilians sought shelter as Iranian retaliatory strikes threatened population centers, with news outlets publishing images of Israelis taking cover.
The conflict also raised concerns about the broader regional security architecture. Pakistan's defense minister separately declared his country in "open war" with Afghanistan following Taliban retaliatory strikes — a parallel escalation that further complicated an already volatile geopolitical landscape. Aid groups operating in Gaza and the West Bank received a temporary reprieve when an Israeli court paused a threatened ban, though the broader humanitarian situation remained precarious.
Global Reactions: Division Among World Powers and Congress
International reactions to the strikes reflected deep divisions. Russia's Foreign Ministry condemned the U.S.-Israeli operation as an "unprovoked act of armed aggression," according to reports from ABC News and the Washington Times. The strong language from Moscow signaled potential complications for any diplomatic resolution, given Russia's long-standing relationship with Iran.
European leaders were described as "cautious" as they scrambled to assess the situation. UK Prime Minister Keir Starmer chaired an emergency Cobra meeting to coordinate Britain's response to the U.S.-Israeli strikes. The European reaction underscored the difficulty Western allies faced in balancing their security partnerships with the United States against concerns about regional escalation.
In Washington, congressional reactions fell largely along partisan lines, though with notable exceptions. Senator John Fetterman, a Democrat, praised Operation Epic Fury, saying Trump was "willing to do what's right" — a rare break from his party's largely critical stance. Other Democrats expressed outrage at what they viewed as an unauthorized military escalation. Republicans broadly supported the operation, framing it as a necessary step to prevent Iran from acquiring nuclear weapons. Trump himself indicated some ambivalence, saying he would "love not to" attack Iran "but sometimes you have to," while also suggesting he would give further nuclear negotiations more time.
Market Impact: Investors Brace for Volatility
Financial markets were already under pressure before the strikes began. The Dow Jones Industrial Average had closed more than 500 points lower on Thursday following a hotter-than-expected inflation report, with core wholesale prices rising 0.8% in January — well above expectations. The Iran strikes layered geopolitical risk onto an already anxious market.
CNBC reported that markets were bracing for impact, with analysts warning of "bigger ramifications than Venezuela" — a reference to earlier U.S. sanctions and interventions that roiled energy markets. Oil prices were expected to face significant upward pressure given Iran's role as a major petroleum producer, while safe-haven assets including gold and U.S. Treasury bonds were likely to see increased demand.
The geopolitical uncertainty also intersected with other market-moving developments. UBS had downgraded the U.S. stock market, and private equity stocks were among the most oversold names in the S&P 500. Meanwhile, the technology sector faced its own turbulence as the Trump administration blacklisted AI company Anthropic, with OpenAI subsequently striking a deal with the Pentagon. The convergence of military conflict, hot inflation data, and tech sector disruption created a uniquely challenging environment for investors.
The Nuclear Question: Why Now and What Comes Next
The timing of the strikes appears closely linked to the state of Iran's nuclear program. CBS News reported on the advanced state of Tehran's nuclear capabilities, raising questions about how close Iran was to achieving weapons-grade enrichment. The Trump administration had designated Iran a state sponsor of wrongful detention ahead of the strikes, adding another layer of diplomatic pressure.
BBC's international editor Jeremy Bowen described the moment as "dangerous" but noted that "US and Israel see opportunity not to be missed" — suggesting that intelligence assessments may have indicated a narrowing window to act against Iran's nuclear infrastructure before it became too advanced to neutralize through military means.
Trump's rhetoric about regime change added a dimension that extended beyond the immediate military objectives. By urging Iranians to "take over" their government and telling them "the hour of your freedom is at hand," the president signaled ambitions that go well beyond simply degrading Iran's nuclear capabilities. Analysts at Fox News raised the question of who would fill the power vacuum if Iran's Supreme Leader Ali Khamenei fell, warning that strikes could expose the grip of the Islamic Revolutionary Guard Corps (IRGC) on Iranian politics. The coming days and weeks will determine whether Operation Epic Fury remains a limited strike or marks the beginning of a broader and potentially protracted military engagement.
Conclusion
The U.S.-Israeli military operation against Iran represents a watershed moment in Middle Eastern geopolitics. The scale of the initial strikes, Iran's swift retaliation against multiple U.S. bases, and President Trump's explicit calls for regime change all suggest this crisis could reshape the region's security architecture for years to come. With flights grounded, markets rattled, and world powers taking sides, the immediate trajectory of the conflict remains deeply uncertain.
The intersection of military action with broader economic pressures — including hot inflation data, a government shutdown dispute, and tech sector disruption — creates a particularly complex environment for policymakers and investors alike. How Iran calibrates its ongoing response, whether U.S. allies fully back the operation, and whether diplomatic channels can be reopened will be the critical variables to watch.
For ordinary citizens across the Middle East and beyond, the stakes could not be higher. The conflict's expansion into retaliatory strikes against military bases raises the specter of a broader regional war, while the humanitarian impact of cancelled flights, disrupted supply chains, and potential energy price spikes will be felt far beyond the immediate conflict zone. The world watches and waits to see whether Operation Epic Fury achieves its stated objectives — or triggers the very escalation its architects sought to prevent.
Frequently Asked Questions
Sources & References
www.cnbc.com
www.foxnews.com
www.washingtonpost.com
www.cbsnews.com
www.nbcnews.com
Disclaimer: This content is AI-generated for informational purposes only. While based on real sources, always verify important information independently.