A military strike by Israel against Iran’s nuclear facilities has emerged as one of the biggest threats to the U.S. economic recovery and could roil the November elections.

The Obama administration and economic experts have warned a pre-emptive attack by Israel could send the economy into a slump, which would change the trajectory of campaigns for the White House and Congress.

Economic and energy experts say an attack could cause an oil shock, which sent the United States into recession in the late 1970s. In the early ’90s, a similar shock occurred when the OPEC oil embargo and the Iraq invasion of Kuwait sent prices soaring.