In an afternoon downturn on Wednesday, the Thai stock index slipped 1% to 1,102.40 points, reversing its prior upward trajectory observed earlier in the day.
The market decline is attributed to escalating geopolitical tensions in the Middle East, with heightened alerts among U.S. and Iranian military forces. This comes amidst deliberations in Washington over increasing its support for Israel in its conflict with Iran.
A report from the New York Times, referencing U.S. officials, revealed that Iran has prepared an arsenal of ballistic missiles and military equipment, poised for potential strikes on American bases in the region—contingent upon U.S. military intervention alongside Israel.
Further stirring the pot, Asharq News, a Saudi Arabia-based Arabic news channel, broadcast a message from Iranian television forewarning of an imminent event stating that “there is a surprise tonight that the world will remember for many centuries.”
According to U.S. assessments, any attack on Iran’s nuclear facilities could trigger a swift and severe wave of regional escalation. Iran-backed groups are expected to retaliate: Houthi forces in Yemen could reinitiate assaults on shipping throughout the Red Sea, while Iran-aligned militias in Iraq and Syria are likely to mount attacks on American positions.
Strategists also warn of broader maritime risks. Iranian units could seek to lay mines across the Strait of Hormuz, a critical chokepoint for global energy supplies, threatening the freedom of navigation and pinning down U.S. naval assets in the Gulf.
