Major defense stocks advanced Tuesday after Iran launched missiles at Israel, raising the odds of a wider conflict. Lockheed Martin was among the S&P 500's best performers, while RTX shares hit an all-time high.

U.S. forces had a limited role in repelling Iran’s ballistic missile attack on Israel, which officials called ineffective but a “significant escalation.”

A direct attack by Iran on Israel will carry 'severe consequences for Iran,' a White House official said. A shelter in place order was issued by the US embassy.

Ishiba is set to replace Fumio Kishida as Japan's prime minister on Tuesday. (Reporting by Yoshifumi Takemoto and Kentaro Sugiyama; Writing by Kantaro Komiya; Editing by Kim Coghill)

Asian markets have had a wild start to the week, with Tokyo’s Nikkei 225 index tumbling nearly 5% while Chinese markets soared on news of fresh stimulus for the faltering economy