U.S. forces struck Iranian rocket launchers on Larak Island in the Strait of Hormuz on Sunday, their first military action against Iran in weeks, and Tehran answered with missiles at U.S. bases in Jordan. Tim Hawkins, a U.S. Central Command spokesperson, said Revolutionary Guard forces had been seen preparing to fire rockets carrying sea mines into the strait. The attack on Larak killed three people, the Korea Times reported, citing Iranian state media.
What is the economic pressure campaign? The attack came days after 
Donald Trump's administration said it would turn to economic pressure rather than military action to end the war. Treasury Secretary Scott Bessent told Reuters on Sunday that new secondary sanctions were likely to be unveiled weekly, starting with banks, the Korea Times reported. At a G20 meeting in North Carolina on Monday, Bessent told reporters: "We are going to continue exerting pressure."
How did Iran respond? Iran fired ballistic missiles at two U.S. bases in Jordan, whose armed forces said they intercepted eight, and the United Arab Emirates said it stopped an Iranian drone over its waters. A Guard spokesperson, Gen. Hossein Mohebi, called the strike a "fatal mistake by the Trump regime during the economic war," PBS NewsHour reported.
What did the White House say? "We're going to hit them hard. There will be a response," Trump told a Fox News reporter on Monday. Over the weekend he had posted an AI-generated video claiming Iran's Kharg Island energy hub was being "blown to smithereens," though there was no evidence the island was under attack. Vice President 
J.D. Vance, speaking to reporters on Monday, said Trump "would be the first to say he doesn't make announcements about military actions on social media, but I think that he's sending a message to the Iranians."
What happened next? Central Command said Tuesday it had completed new strikes on Iranian air defense sites, radar systems and maritime assets. One strike hit a home hosting a wedding in Kuhestak in southern Iran, killing five people including a child, a provincial deputy governor told Iranian state television; Hawkins said the U.S. military "never targets civilians." Jordan said it shot down 10 missiles fired in response.
How did markets react? Brent crude rose 1.9% to $89.79 a barrel on Sunday, PBS NewsHour reported, and passed $90 on Monday. Oil extended gains on Tuesday while stocks mostly fell, CNA reported. AAA put the cost of a gallon of U.S. regular gasoline at $4.10, up from $3.19 a year earlier.
Figures referenced: Donald Trump, J.D. Vance. — JudgeMarket.
