Financial markets may be in for a "knee-jerk" selloff if the U.S. military attacks Iran, with economists warning that a dramatic rise in oil prices could damage a global economy already strained by President Donald Trump's tariffs.

Degrading Iran's nuclear and military capabilities is good for geopolitical stability, which would be good for markets, Eisman said.

Stocks rose and oil prices retreated on Monday as investors shrugged off the continuation of hostilities between Israel and Iran over the weekend.