U.S. President Donald Trump is weighing a military strike on Iran, while demanding the country’s leader Ayatollah Ali Khamenei “surrender.”

Israeli stocks broke new records Tuesday while US markets dropped, as the war between Israel and Iran kept escalating for a fifth straight day after President

The sharp pullback came as global investors reacted to headlines of escalating military conflict in the Middle East, with Israel and Iran trading lethal missile barrages. US crude climbed 1.21% to $72.64 per barrel, extending gains from last week as markets priced in potential disruptions to energy supply chains.

Amid the tragedy of the Israel-Iran conflict, stocks are proving stoic. Futures early Monday, as the missile attacks continued, showed the S&P 500 once again reclaiming the 6,000 mark. That’s only about 2% shy of the record high struck in February.

Stocks lost ground in early trading Tuesday, while oil prices moved higher, as investors monitored developments in the escalating conflict between Israel and Iran and digested disappointing economic data.

NEW YORK (AP) — Some calm is returning to Wall Street, and U.S. stocks are rising on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.

Israeli stocks dropped on their first day of trading after Prime Minister Benjamin Netanyahu’s government began airstrikes against Iran. Saudi Arabia’s equity benchmark slid as concerns of a wider conflict gripped the region.