Markets kick off the week on Monday on a tepid footing, as they take account of the weekend’s developments on the geopolitical front.

Geopolitical tensions between the West and the Middle East further escalated after the United States (US) and the United Kingdom (UK) conducted a new wave of air strikes on the Iran-backed Houthi militant group in Yemen on Saturday, hitting at least 30 targets.

The latest strikes come after Friday’s air assault aimed at other Iran-backed groups in Syria and Iraq, along with the Iranian Revolutionary Guard, seeking retribution for the drone strike that left three US service members dead in Jordan,” per the Associated Press.