As the night sky above Doha lit up with Iranian missiles being intercepted on Monday, people across the city were on balconies and in gardens watching the show and filming it on their smartphones.
For decades, the idea of a U.S.-Iran conflict raised the specter of World War III. Now Israel has attacked, the U.S. has joined in and the Islamic Republic just aimed its retaliation at the biggest American military base in the Middle East.
All of that happened in the last 24 hours, following an equally chaotic 11 days. But on Tuesday morning, consultants in the Qatari capital and financiers in Dubai went to work as normal. Oil fell back to where it was when Israel first struck Iran on June 13; the S&P 500 ended the day higher than it began.
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