Iran fires missiles at multiple bases housing US troops in Iraq

Iran launched more than a dozen ballistic missiles against multiple bases housing U.S. troops in Iraq, Pentagon officials said on Tuesday. It was not immediately clear if any U.S. service members were hurt in the strikes. The White House decided against a formal address to the nation Tuesday night.

U.S. stock futures plunged on Tuesday night following the news. Dow Jones Industrial Average futures dropped 343 points and indicated a loss of 365 points at Wednesday’s open. S&P 500 and Nasdaq 100 futures pointed to losses of at least 1.3%. Dow futures briefly fell more than 400 points earlier. Oil prices surged more than 4% at their high in early trading on Tuesday night.

President Donald Trump responded to Tuesday night’s attacks on Twitter: “All is well!” he said. “Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now. So far, so good! We have the most powerful and well equipped military anywhere in the world, by far! I will be making a statement tomorrow morning.”

Tensions between Tehran and Washington have escalated following Trump’s withdrawal from the landmark Iran nuclear deal brokered by the Obama administration. The 2015 nuclear agreement lifted sanctions that crippled Iran’s economy and cut its oil exports roughly in half. In exchange for sanctions relief, Iran accepted limits on its nuclear program and allowed international inspectors into its facilities.