The Wall Street Journal reported that Russia is seeking to bolster Iran's military capabilities amid tensions with the US and Israel by providing satellite imagery and advanced drone technology. According to the report, Moscow seeks to prolong the war in the region for political and economic benefits, and the shared technology includes improved components for Shahed drones with better navigation and communication systems.

Global stock markets rallied as oil prices declined and volatility subsided ahead of the Federal Reserve's Wednesday meeting. The S&P 500 posted its first back-to-back gain since the Iranian war began, while Brent crude fell 0.6% to $102.84 per barrel. Analysts say that with oil stabilizing, market focus has shifted from monetary policy to geopolitical developments.

The Swiss National Bank faces growing pressure to curb investor demand for the franc as a safe haven amid the Iran war ahead of Thursday's decision. The bank is expected to keep interest rates at zero percent, but officials appear ready to intensify their rhetoric on currency intervention to prevent further appreciation. The Swiss franc has become Europe's strongest major currency against the dollar this year, threatening inflation and exporters.