**Ongoing regional security risks tied to Iran tensions and Lebanon conflicts continue to shape the market.** In February 2026 the State Department ordered the departure of non-emergency U.S. personnel and eligible family members from the Beirut embassy amid elevated threats, resulting in dozens of staff leaving via commercial flights while core operations continued. Routine consular services were suspended, and the travel advisory stayed at Level 4 (Do Not Travel). As of August 2026 the advisory remains active with the same restrictions on personnel movement and limited U.S. government emergency assistance, but no further large-scale drawdown or full embassy closure has occurred. Trader sentiment reflects uncertainty around potential escalation involving Hezbollah, airstrikes, or broader Middle East developments that could prompt additional protective measures, balanced against the fact that essential diplomatic functions have persisted despite the partial February reduction. Scheduled events such as diplomatic talks or conflict-related deadlines within any resolution window could still alter assessments.