On Tuesday, 1 October 2024 a 4:40pm local time (Singapore time at 11:40pm), Iran launched a missile attack against Israel.
This assault came in retaliation for Israel’s recent military actions in Lebanon, particularly the assassination of Hezbollah leader Hassan Nasrallah and other high-ranking officials.
Here’s what happened.
Iran Fired Missiles at Israel, Escalating Middle East Conflict
The Iranian Revolutionary Guards Corps (IRGC) fired approximately 180 to 200 missiles at Israel, targeting major urban centre and causing widespread alarm across the country. As sirens blared, Israeli citizens rushed to bomb shelters, while explosions could be heard in Jerusalem and the Jordan River valley.
The attack was unprecedented in its scale and directness, and it was the first time Iran had launched such a large-scale assault on Israeli territory.
Israel’s defense systems, in collaboration with the United States military, successfully intercepted the majority of the incoming missiles.
Despite this, some projectiles did manage to penetrate Israeli defenses, causing minor damage to a military installation in southern Israel and injuring at least two individuals in the Tel Aviv area. In the West Bank, a Palestinian man was reportedly killed by falling rocket debris near Jericho.
The Iranian attack was not only a response to the recent killing of Hezbollah’s leadership but also to the assassination of Hamas leader Ismail Haniyeh in Tehran earlier in the year.
Iran’s President Masoud Pezeshkian described the missile strike as a “decisive response” to Israel’s “hostilities,” while Iranian officials emphasized their country’s right to self-defense against what they perceive as repeated Israeli military assaults.
In response to the attack, Israeli Prime Minister Benjamin Netanyahu convened an emergency meeting of the security cabinet in a bunker near Jerusalem. Israeli officials, including UN Ambassador Danny Danon, warned of a “painful response” to the Iranian aggression.
How the World Reacted
The international community reacted swiftly to this escalation.
The United States, Israel’s primary ally and Iran’s adversary, reiterated its unwavering support for Israel, with President Joe Biden emphasizing America’s commitment to Israel’s defense.
The Pentagon discussed potential “serious consequences for Iran” with Israeli Defense Minister Yoav Gallant.
Other nations, including Germany, condemned Iran’s actions and called for de-escalation.
The United Nations Secretary-General Antonio Guterres condemned the “escalation after escalation,” calling for an immediate ceasefire to prevent further deterioration of the situation.
The missile attack has had immediate economic repercussions, with oil prices surging by 5% due to fears of a wider conflict between Iran and Israel.
The U.S. stock market also experienced a significant downturn following Iran’s missile attack on Israel, with The Dow Jones Industrial Average (DJIA) fell by approximately 0.4% or 173 points, and the S&P 500 dropped around 0.9%.
The tech-focused Nasdaq Composite saw the largest decline, falling about 1.5%.
These declines came after both the Dow and S&P 500 had recently achieved record highs in the previous quarter.
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