US sinks Iranian ship: US Secretary of Defense Pete Hegseth said a US submarine sank an Iranian warship in international waters off the coast of Sri Lanka. Sri Lanka’s navy said it has recovered “several bodies” but the toll is not yet clear.

Turkish interception: NATO air defense systems sH๏τ down an Iranian missile that was traveling towards Turkey’s airspace, the Turkish presidency said. This is believed to be the first time NATO forces have intercepted an Iranian missile traveling towards a member country’s airspace since the conflict in the Middle East broke out over the weekend.

Fresh strikes: The Israeli military said it again attacked Tehran, the tenth wave of strikes since the conflict began. US President Donald Trump has praised the joint operation, claiming Iran’s military installations had been essentially “knocked out,” from its navy to its air force and more.

More strikes are expected; Hegseth said the US operation is still in its “early days.”
Markets roiled: Asian stocks fell sharply Wednesday, with a record selloff in Seoul, as investors fretted about rising oil prices in a region heavily dependent on imports from the Middle East. The Strait of Hormuz, a key transit point, is effectively shut off. But oil prices paused their recent surge while US and European stocks rebounded.