It was supposed to be a day of de-escalation, so when Bloomberg, Sky News Arabia, Fox News and other sources reported that "several rockets" have hit the Green Zone in Baghdad and explosions have been heard... the headline-scanning algo reaction was swift. A clip posted by Fox News reporter Trey Yingst, presumably located near the embassy, confirms that sirens are blaring in Baghdad with the warning "incoming" heard in the background: Why are markets sliding on the news? Because contrary to the carefully built narrative that the US and Iran have become nothing short of BBF, the risk for re-escalation ... (full story)