China has voiced strong concerns over Israel’s recent military strikes on Iran. On Friday, the Chinese Foreign Ministry released a statement saying it is “closely following” the events and is worried about how the situation is unfolding.

Amid escalating tensions following Israel's military strikes on Iran, analysts warn that China may retaliate against the U.S. through Iranian proxies, affecting Middle Eastern dynamics and international relations.

National security experts warn that Israel's attack on Iran shows why Chinese land and asset purchases in the U.S. pose a significant threat to American security.

U.S. oil prices already jumped last week, which could cause prices at the pump to rise about 20 cents a gallon in the coming weeks, according to one estimate.

Bitcoin's decline today is influenced by US-China trade deal outcomes and geopolitical tensions involving Israel and Iran. The potential for future Federal Reserve rate cuts is increasing despite a slight decline in May's headline inflation figures.

President Donald Trump's eventful week included securing a preliminary trade deal with China, deploying National Guard troops to Los Angeles, and responding to Israel's strikes on Iran.

Israeli emergency services have said at least two people were killed in the strikes and dozens of people are injured.