Knowing how things went for the past couple of weeks, the market likely over reacted and shot upwards.
Only for that hope to be popped hours late by Iran (the reporting before that seemed so convincing, on the cusp of a 45 days ceasefire? Wow!).
I still believe that Iran has some clout through their approach via assymetrical warfare. They cannot truly wipe out the usa, but they can fire random missiles and drones to harass and occasionally hit surrounding infrastructure that are of value (e.g. middle east amazon data centres).
There will be more action to be had: unstoppable force meets small but immovable object.
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