The conflict between Israel and Iran has a significant impact on the global economy, mainly reflected in the following aspects:

1. **Surging Oil Prices**: The conflict has caused Brent crude oil prices to soar by 12%. JPMorgan warns that if the Strait of Hormuz is blocked, oil prices could surge to $120-130, increasing global inflationary pressures.

2. **Market Turbulence**: Global stock markets have plummeted, Bitcoin has fallen below $104,000, and safe-haven asset gold has risen by 1.7%.

3. **Supply Chain Risks**: If Iran blocks the Strait of Hormuz (which accounts for 1/3 of global oil transport), it will severely disrupt energy supplies and impact economies that rely on Middle Eastern oil.

4. **Deteriorating Iranian Economy**: The World Bank warns that the war could result in a GDP loss of over 10% for Iran, a 60% devaluation of its currency, and a two-thirds reduction in oil exports, worsening the fiscal crisis.

In the short term, geopolitical risks exacerbate market volatility, while in the long term, they may hinder global economic recovery.