On June 12–13 of last year, Israel carried out large-scale airstrikes against Iran, targeting nuclear facilities, military bases, and senior commanders and scientists. Dozens of sites were neutralized, and several top Iranian military leaders were killed.

Despite the escalation, U.S. institutional investors showed little concern and continued deploying billions into equities, private equity, and venture capital. Markets responded positively, with both the S&P 500 and NASDAQ reaching new all-time highs.