War with Iran Spreads Economic Damage

“Iranian missile and drone attacks have disrupted the flow of commerce through one of the global economy’s most critical hubs, paralyzing much of the ocean and air traffic that carries goods between Asia and Europe while punishing investors in faraway financial markets,” the Washington Post reports.

“As the U.S.-Israeli assault on Iran enters a second week, the war’s economic casualties extend well beyond the oil and natural gas shipments that normally transit the Strait of Hormuz. The closure of several international airports in the conflict zone, including the world’s busiest in Dubai, idled nearly one-fifth of global airfreight capacity, interrupting shipments of consumer electronics, pharmaceuticals and precious metals.”