U.S. And Israel Pound Iran After Killing Supreme Leader Ayatollah Ali Khamenei
Image: The Times of India

U.S. And Israel Pound Iran After Killing Supreme Leader Ayatollah Ali Khamenei

03 March, 2026.Iran.12 sources

Reporting on Operation Epic Fury

U.S. and Israeli forces undertook a concentrated air and ground campaign against Iran after what multiple outlets reported as the death of Supreme Leader Ayatollah Ali Khamenei.

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CENTCOM described the strikes as part of Operation Epic Fury, saying roughly 700 additional targets were hit since Sunday and that this brought CENTCOM's total for Operation Epic Fury to more than 1,700 targets.

Image from Associated Press News
Associated Press NewsAssociated Press News

Other tallies in the same report varied, citing 1,250+ and 1,000+ strikes at various points, reflecting rapidly changing counts.

The Associated Press said the conflict intensified after a U.S. and Israeli strike that reportedly killed Iran's Supreme Leader Ayatollah Ali Khamenei.

Coverage noted the strikes hit Iranian military and government sites.

Figures and operational details remain fluid across reports.

Iran's retaliation and politics

State outlets and reporting said Iran vowed 'scorched earth' retaliation and highlighted vulnerabilities around the Strait of Hormuz.

The Indian Express reported that Iran has vowed 'scorched earth' retaliation and noted that President Masoud Pezeshkian has invoked Article 111 to form a three-member provisional Leadership Council after Khamenei's death.

Image from Business Today
Business TodayBusiness Today

Iranian commanders and advisers were quoted warning that the Strait of Hormuz had been closed, a central strategic claim picked up by regional and international coverage.

Regional strikes and responses

U.S. forces reportedly brought heavy bombers and fighters into operations.

Israeli strikes and subsequent Iranian actions hit military and infrastructure targets, and several governments activated emergency responses.

The Indian Express said the U.S. introduced B-1 and B-52 bombers and F-15 fighters into the operation.

Its reporting and other outlets described strikes hitting ballistic missile hubs, naval assets and government districts, with heavy explosions reported in Tehran.

Business Today reported that the US embassy in Riyadh was reportedly struck by drones, and that Tehran-backed Hezbollah struck toward Tel Aviv.

Outlets described evacuations and air-defense activations in the Gulf and Levant.

Market reaction to conflict

Markets reacted sharply as the conflict threatened oil routes and pushed yields and commodity prices.

Business Today reported "Brent crude jumped more than 8% above $84/bbl and WTI rose over 8% above $77/bbl."

Image from Investment Executive
Investment ExecutiveInvestment Executive

The Associated Press recorded that "Brent jumped 7.8% to $83.79 and U.S. crude rose 7.6% to $76.63."

Bond markets rose as well: The Economic Times said "The 10-year Treasury yield rose to 4.09% (from 4.05% late Monday and 3.97% on Friday)."

The Times of India gave a similar move to "4.10%."

Precious metals reporting was inconsistent — The Indian Express noted "gold surged above $5,200," whereas The Economic Times said "gold plunged 4.9% to $5,053.30 after recently topping $5,300," underscoring how rapidly changing trade flows and currency moves produced divergent price snapshots.

Casualties, Markets and Uncertainty

They also highlighted uncertainty and varying tallies across sources, with multiple reports stressing the situation was fluid and that figures and operational descriptions differed across briefings and outlets.

Image from PBS
PBSPBS

The Indian Express noted 'Iranian state media reported about 165 casualties from strikes in Minab' and that 'CENTCOM confirmed American casualties during ongoing ground and air operations.'

Business Today described broad market and geopolitical disruption, saying 'The Dow fell as much as 1,033 points and finished about 1.8% lower' as investors digested the risk.

The Associated Press captured the view that 'Some investors say this doesn't yet signal a long-term market downturn and stocks could rebound if the war is short.'

Key Takeaways

  • U.S. and Israel conducted widespread strikes across Iran
  • President Donald Trump said the U.S. can sustain the Iran war beyond four-to-five weeks
  • Global markets plunged and oil prices surged, with the Dow falling over 800 points

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