FirstFT: Gulf braced for renewed war between US and Iran

The Gulf region is on edge as tensions escalate between the US and Iran, raising fears of renewed conflict. This geopolitical instability comes amid significant financial shifts, including a massive withdrawal of $3.6bn from Binance and a severe downturn in junk debt markets, which has left credit investors reeling. Such developments underscore the interconnectedness of global politics and finance, highlighting how international relations can ripple through global markets. For those keeping tabs on both worlds, these events signal a period of heightened volatility and potential risk.