Wall Street has largely shrugged off geopolitical upheaval in recent years. But the United States’ war against Iran comes at a more precarious time for the stock market.

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March 21 event will likely move to a new location.

The United States launched military strikes and "major combat operations" against Iran on Feb. 28, President Donald Trump said.

PM Narendra Modi spoke to UAE President Sheikh Mohamed bin Zayed, condemned attacks on the UAE and backed de-escalation as West Asia tensions escalate. Catch live updates.

Iran has nowhere near the same capabilities, and is even more vulnerable after last year's war launched by Israel and recent anti-government protests. But it could still inflict pain on American forces and allies, and may feel it has to if the Islamic Republic's survival is at stake.

Prices of oil and other commodities are expected to jump when trading resumes on Sunday, but how long they will stay high will depend on what the United States, Israel and Iran do next.