Israel launched a new wave of strikes on Tehran on Sunday and Iran responded with more missile barrages, a day after the killing of Supreme Leader Ali Khamenei pitched the Middle East and the global economy into deepening uncertainty, Reuters reported. 

U.S. and Israeli strikes - and Iranian retaliation - sent shockwaves worldwide through sectors from shipping to air travel to oil, amid warnings of rising energy costs and disruption to business in the Gulf region.

The Israeli military said it had intercepted projectiles that were launched from Lebanon early Monday morning, in what could be the first sign of Lebanon's Shi'ite Muslim armed group Hezbollah, long one of Tehran's principal allies in the Middle East, entering the conflict, according to Reuters.