Iran, Berkshire Hathaway earnings, OpenAI's Pentagon deal and more in Morning Squawk The weekend saw significant geopolitical developments as U.S. and Israeli strikes targeted Iran’s leadership, resulting in the death of Supreme Leader Ayatollah Ali Khamenei and multiple casualties among Iranian citizens. The operation, dubbed "Operation Epic Fury," triggered immediate retaliation from Iran and raised concerns about the potential for prolonged conflict. President Donald Trump vowed to "avenge" the deaths of three U.S. service members killed in the strikes, which he described as part of a military operation that was "ahead of schedule." He warned that the conflict could last up to four weeks and lead to further American casualties. The strikes also led to the closure of a large portion of the Middle East’s airspace, causing widespread flight cancellations and stranding travelers globally. U.S. crude oil prices surged in response, with investors speculating about the possibility of a 1970s-style energy crisis. Market reactions to the conflict were swift and severe. Stock futures fell sharply in premarket trading as investors grappled with the uncertainty surrounding the geopolitical situation. Gold futures rose as a safe-haven asset, while Wall Street’s fear gauge hit its highest levels of 2026. Energy and defense stocks, however, saw gains amid heightened concerns about supply chain disruptions and military spending. The broader market was already in a precarious position, with the S&P 500 and Nasdaq Composite posting their worst months in nearly a year. The Dow Jones Industrial Average managed a slight gain for February, marking its longest winning streak since 2018. Berkshire Hathaway’s recent financial performance highlighted ongoing challenges for the conglomerate.#iran #pentagon #berkshire_hathaway #openai #life_time
