Two U.S. military aircraft were shot down in separate incidents during combat operations over Iran on April 3 — an F-15E Strike Eagle and an A-10 Thunderbolt II — with a search-and-rescue operation still ongoing for one missing crew member as Operation Epic Fury approaches its sixth week.

U.S. officials confirmed to CBS News that the F-15E Strike Eagle — a two-seat aircraft flown by a pilot and a weapons systems officer — was shot down by Iranian forces. One crew member was rescued by U.S. forces following a combat search-and-rescue mission. The second crew member, a weapons systems officer, remains missing. Images verified by CNN showed low-flying rescue aircraft conducting operations over Khuzestan Province in central Iran.

A rescue helicopter that extracted the surviving pilot was hit by small arms fire during the operation, wounding crew members on board before landing safely. An A-10 Warthog dispatched as part of the search effort was then struck by Iranian fire, forcing its pilot to eject over the Persian Gulf before recovery.

Iran’s state media posted claims of downing the aircraft and announced a reward for the capture of any “enemy pilot or pilots.” Iran’s Parliament Speaker Mohammad Bagher Ghalibaf mocked the U.S. search effort publicly on X.

A Direct Contradiction

The downing conflicts with statements from President Trump, who said in a prime-time address two days earlier: “They have no anti-aircraft equipment. Their radar is 100% annihilated. We are unstoppable as a military force.” Defense Secretary Pete Hegseth and other officials have repeatedly asserted U.S. air dominance over Iran.

According to Axios, three F-15Es had previously been lost to friendly fire during the conflict. The war has now claimed 13 American lives and wounded 365 service members. Israel separately suspended airstrikes in areas relevant to the ongoing U.S. rescue effort, according to an Israeli official speaking anonymously to the Associated Press.

Economic Pressure

Iran’s response has escalated alongside the aircraft losses. Tehran has imposed what amounts to a toll system on the Strait of Hormuz, a waterway through which approximately 20% of globally traded oil transits. Missile and drone attacks struck oil, gas, and desalination facilities across the Persian Gulf on Friday. The Federal Reserve Bank of Chicago’s Austan Goolsbee told CBS News that the Iran war risks fueling inflation in a way that could prevent the Fed from cutting rates in 2026.

As analysts warned months ago, Middle East escalation carries supply chain and inflationary consequences that reverberate across all risk assets. Institutional capital flows have already shifted in response to the conflict’s progression, with large asset managers repositioning across both traditional and digital markets as geopolitical uncertainty deepens.