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Tensions between Iran and Israel are escalating rapidly, with Iran launching retaliatory missile strikes aimed at key Israeli targets, including military bases and intelligence headquarters. A US official indicated that Iran has already fired a significant number of missiles in response to the assassination of Hamas and Hezbollah leaders by Israel. The military capabilities of Israel, notably its multi-layered defense systems like the Iron Dome, are expected to intercept many of these missiles; however, the threat of an all-out war in the region looms large. This move by Iran not only raises the stakes for regional security but also poses a substantial risk to global economic stability, given the potential for widespread conflict.