As Trump eyes new attack, Iran vows to retaliate beyond the Mideast and target financial assets, while oil markets brace for generational damage

As President Donald Trump considers a new escalation in the U.S.-Iran conflict following the midterm elections, Iran is warning it will target financial and non-financial assets beyond the Middle East, including undersea internet cables and data centers. The Iranian regime's leader, Ayatollah Khamenei, vowed that retaliation would have "no geographical limitations" and that the military must prepare to strike various financial and non-financial targets.

Iran has also threatened to hit freezers on U.S. military bases and warned that its cyberattacks are effective. The Pentagon is investigating whether hackers have compromised freezers on U.S. bases. The RAND think tank noted that Iran's hostile activities spread globally, with proxy Hezbollah in Latin America and threats against civilians in Europe.

Diplomacy efforts between the U.S. and Iran have not seen progress, as both sides maintain their initial demands. Analysts believe Iran's tactics are evolving, shifting from a proportionate response to a more offensive approach aimed at inflicting costs on adversaries. Given Iran's arsenal of thousands of missiles and drones, the potential for widespread damage to Gulf energy infrastructure is high.

Experts warn that another round of fighting could leave lasting damage and weaken market confidence, with the potential to impact the global economy for years to come.