President Obama authorized U.S. air strikes in northern Iraq to protect American personnel and prevent a humanitarian catastrophe amid advances by Islamic militants.
Major stock index futures are off about 0.2%, while Europe's Stoxx 50 is down 0.4%. The news wasn't taken quite as well in Japan, though, where the Nikkei tumbled 3% overnight.
Fed rate hikes? The 10-year Treasury yield tumbles to another 2014-low, down four basis points to 2.37%. Gold is up $7 per ounce to $1,319.