Dubai's main stock index plummeted 5% Wednesday as Israeli airstrikes on Tehran and Iran's leadership transition triggered regional market turmoil.

Dubai's main stock index plummeted 5% Wednesday as Israeli airstrikes on Tehran and Iran's leadership transition triggered regional market turmoil. The Dubai Financial Market sell-off reflects broader geopolitical escalation, with U.S. military facilities in Iraq also targeted by drone attacks. Global bond markets are responding sharply, with Japanese 30-year government bond yields jumping 3.5 basis points to 3.365% as investors shift toward safe-haven assets amid Middle East uncertainty. Energy markets remain relatively stable, with Kazakhstan maintaining steady oil exports to Europe. The geopolitical crisis signals potential for wider regional conflict, prompting the U.S. State Department to authorize non-emergency staff departures from Pakistan and issue fresh travel advisories for Cyprus. Market volatility is expected to persist as the situation develops.