US-Iran War LIVE updates: Aussie shares tumble to worst day in three months

That's where we'll wrap up today's rolling coverage of US politics and the Middle East conflict.

Here are the key developments from today:

• The ASX has fallen to its worst day in three months following the escalating conflict and surging oil prices. 
• Bahrain issued three alerts about potential threats in a six-hour span, and Iran claimed responsibility for strikes on US bases in the country.
• US Treasury Secretary Scott Bessent said that in two years, the Strait of Hormuz will be “a worthless piece of water”.
• Canadian Prime Minister Mark Carney told the White House to “stop doing memes” if it wants trade talks to resume.
• A Kremlin spokesperson said Trump could meet with Chinese President Xi Jinping and Russian President Vladimir Putin at the next APEC summit.

Thanks for reading. We'll have more news as it breaks on nine.com.au.

Bahrain’s Interior Ministry has issued a third alert about a “potential threat” in just six hours.

In a social media post, the ministry called for members of the public to “remain calm [and] proceed to the nearest safe location”.

“Follow news through official channels for the protection of public safety,” the post said.

The alerts follow Iran claiming responsibility for attacks on US bases in Bahrain. 

The Gulf state reportedly intercepted Iranian drones earlier in the day.

Just four vessels transited the Strait of Hormuz on Tuesday (Wednesday AEST), well below the 10-day average of about 13 ships.

Preliminary tracking data from ship tracker Kpler showed the slow movement, which was made up of one big crude carrier, one Panamax tanker, one Kamsarmax carrier, and one intermediate tanker.

Reuters noted the sluggish numbers could change as some ships typically switch off transponders during their voyage.

Al Jazeera has reported that the Israeli military has launched a pair of air strikes on the outskirts of Kfar Ramman and Arab Selim in southern Lebanon.

The strikes followed reports of the Israeli military intercepting a "suspicious aerial target" coming from Lebanon toward Israel.

“Interceptors were launched toward a suspicious aerial target that likely crossed from Lebanon into Israeli territory,” the Israeli military said in a statement.

The update comes after warning sirens were reportedly sounded in the nation's north.

The military said the interception is under review and that no injuries were reported.

US military attacks across three locations in Iran’s Khuzestan province have left seven people dead.

The province’s deputy governor for security affairs confirmed the attack, adding that eight people were also injured in the strikes.

US Treasury Secretary Scott Bessent says that in two years, the Strait of Hormuz will be “a worthless piece of water”.

“We can see the Iranians are trying to use the Strait of Hormuz as a choke point,” he said at a G20 meeting in the US.

“But that will be bypassed in two years. In two years, the Strait of Hormuz will be like a worthless piece of water — the oil will be going on pipelines across land.“

There are projects underway in the region to bypass the strait and Iran, with oil-dependent Gulf economies scrambling to expand pipeline networks.

Trump’s gone back to the AI well for another dig at Canada, after PM Mark Carney told the White House to “stop doing memes”.

In the video, which he posted to Truth Social, an AI-generated Trump kicks over a Lake Ontario sign and replaces it with one reading “Lake America”.

The Trump figure then starts dancing as the opening bars of his signature rally tune YMCA start playing.

The USS Abraham Lincoln has docked in the Thai port of Pattaya after a record period of on-sea deployment - and reportedly, local authorities are cracking down on sex workers in advance.

The aircraft carrier has been at sea for eight months without shore leave, and conditions during the deployment have reportedly led to mental health and morale problems, though families who raised their concerns about loved ones were dismissed by Trump and Defence Secretary Pete Hegseth before the ship was recalled.

Speaking to reporters in Virginia last week, US Chief of Naval Operations Admiral Daryle Caudle acknowledged the stress extended deployments have placed on the Navy, its sailors and their families.

He said the service would try to put more certainty into deployment times, but combat demands can make that difficult.

“I would prefer, you know, seven-month deployments. I typically am not a big fan of extensions, and I push back hard on that. But the enemy gets a vote,” USNI News quoted Caudle as saying.

In Pattaya, local authorities hope the visit boosts the economy, but police have reportedly in recent days cracked down on illegal sex workers.

According to local news reports, police in Pattaya over the weekend apprehended at least 25 individuals suspected of soliciting for prostitution, an offence punishable by fines.

Local authorities say rules have been set by US authorities barring personnel from visiting cannabis dispensaries and taking part in watersports including jet skiing and parasailing.

Trump says he’s not looking for a bargain with Iran in a new Truth Social post.

“I couldn’t care less if they sign a worthless, to them, agreement,” he said.

“I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing.“

He claimed the Iranian regime was “playing out the inevitable”.

“When are the Iranian people going to rise up and fight?” he said.

He did not mention previously stated goals of regime change or constraining Iran’s nuclear program.