Markets Pare Losses, Trump: Iran Operations to Continue, More
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What key political developments are impacting European markets?
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
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News when you want it. With Bloomberg News Now, I'm Doug Krisner. Financial markets were expected to de-risk in reaction to U.S.-Israeli military operations against the Islamic Republic. And that was the case when trading began in the Asia-Pacific. The mood, though, became less bearish when the New York Times reported President Trump is open to dropping sanctions on Iran if the new Iranian leadership is pragmatic. And at the same time, Iran's security chief has reportedly made a fresh push to resume nuclear talks with Washington. The Wall Street Journal reports the outreach was made through Omani mediators. Meantime, in Beirut, Hezbollah fired missiles into Israel early on Monday. The militant group said the strikes were carried out in retaliation for the killing of Iran's supreme leader and for repeated Israeli aggressions.
Now, in response, the U.S. and Israel launched a barrage of strikes on Lebanon's capital. Separately, Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs of Staff General Dan Kaine will hold a press conference on Operation Epic Fury Monday morning at 8 a.m. Eastern Time. Meantime, three American service members have been killed in action during operations against the Islamic Republic The U.S. Central Command did not say where they were killed or under what circumstances. Five others were seriously wounded. At the same time, President Trump said the U.S. sank nine Iranian naval vessels. In a post earlier on Truth Social, Trump also said Iran's naval headquarters was destroyed in a separate attack.
Now, these developments came during the second day of bombings across Iran. President Trump saying earlier these strikes will continue.
Combat operations continue at this time in full force, and they will continue until all of our objectives are achieved.
Now, these actions have drawn criticism from members of Congress. Here is Pennsylvania Democratic Congresswoman Madeline Dean.
We have not been told the president's objectives. The American people were not briefed on the president's objectives. Congress was not briefed, even though he was four days before in front of the American people and a joint session of Congress at the State of the Union address where he had, I believe, the obligation, the duty to make the case to us. Congress, we are the one who can declare war under Article I, Section 8, and he and his advisors know that. and also make the case to the American people.
That was Pennsylvania Democratic Congresswoman Madeleine Dean. Meantime, Iran's president says its new leadership council has begun working on choosing a successor to Ayatollah Ali Khamenei. Here is Foreign Minister Abbas Arachi speaking on ABC's This Week.
There is a transitional council of the president, the head of judiciary, and one jurist of the guardian council. These three would decide, are in charge right now. and they will actually arrange the election of the new leader.
Arachi went on to say Iran has every right to defend itself. Separately, President Trump told The Atlantic magazine Iran's new leadership wants to speak with him and he's willing to do so.
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