Stock market today: Dow, S&P 500, Nasdaq futures sink, oil surges after Israel strikes at Iran's nuclear sites
US stock futures fell on Friday as an Israeli attack on Iran shook global markets, leading oil prices to spike as the Israeli defense minister declared a state of emergency.
Futures attached to the Dow Jones Industrial Average (YM=F) dropped 1.2%. S&P 500 futures (ES=F) plunged 1.3%, and those attached to the tech-heavy Nasdaq 100 (NQ=F) sank 1.5%.
On Thursday night, Israel conducted what it called a "preemptive strike" against Iran, citing fears over development of nuclear weapons in Tehran. Explosions erupted across the Iranian capital, reports said. Crude oil (CL=F) soared 8% as the strikes hit the third largest producer in OPEC+. The safe-haven asset of gold (GC=F) jumped as much as 1%.
Israel's defense minister suggested the country was bracing for retaliation.
US Secretary of State Marco Rubio said Israel took "unilateral action," saying the US was not involved in the strikes and warning Iran against targeting US interests and personnel.
The dramatic developments came after a day where stocks crept higher despite questions around President Trump's domestic agenda, as he hinted at steps that could rattle markets. The president floated hiking auto tariffs just a day after he said he would impose unilateral tariff rates on countries within two weeks. Separately, he reiterated his call for a jumbo rate cut from the Federal Reserve, adding that he "may have to force something" amid easing inflation.
Read more: The latest on Trump's tariffs
Overall, stocks have edged up this week as a trade deal between China and the US, as well as unexpected signs of softening inflation, boosted investor sentiment.
On Friday, Wall Street will get insight into how consumers are faring amid tariff uncertainty with the latest University of Michigan survey.
Next week, Wall Street's attention will shift to the Fed with policymakers set to issue their next decision on interest rates on Wednesday. Analysts expect the central bank to hold rates steady.
Bitcoin and other cryptocurrencies fell as the Israeli attack on Iran shook global markets. Both of the two major currencies, bitcoin and ether, held significant losses.
Bloomberg reports:
Read more here.
Asian markets sank late Thursday evening as an Israeli attack on Iran shook global markets, leading to widespread sell-offs as investors sought safer assets.
Reuters reports:
Israel has attacked Iran in the largest recent escalation of tensions in the region. Markets reacted swiftly to the news, with the three major gauges all plunging over 1%.
Gold (GC=F) and oil prices surged with investors scurrying to safer assets, hoping to avoid the worst of a financial shake up.
Iran is the third largest producer of oil within OPEC+, and the attack has caused prices to surge over 5%. Brent crude (BZ=F) futures jumped 5.5% to $73.27 a barrel while West Texas Intermediate surged 5.9% to $72.05 a barrel.
Gold (GC=F) popped 0.9% to $3,434.40 an ounce.
A retaliatory attack from Iran against Israel is expected imminently, with a "special situation" being declared by the Isreali defense minister.
US Secretary of State Marco Rubio said Israel took "unilateral action", clarifying that the US was not involved in the strikes ahead of a sixth meeting between the US and Iran on Sunday.
Read more here.
Bitcoin and other cryptocurrencies fell as the Israeli attack on Iran shook global markets. Both of the two major currencies, bitcoin and ether, held significant losses.
Bloomberg reports:
Read more here.
Asian markets sank late Thursday evening as an Israeli attack on Iran shook global markets, leading to widespread sell-offs as investors sought safer assets.
Reuters reports:
Israel has attacked Iran in the largest recent escalation of tensions in the region. Markets reacted swiftly to the news, with the three major gauges all plunging over 1%.
Gold (GC=F) and oil prices surged with investors scurrying to safer assets, hoping to avoid the worst of a financial shake up.
Iran is the third largest producer of oil within OPEC+, and the attack has caused prices to surge over 5%. Brent crude (BZ=F) futures jumped 5.5% to $73.27 a barrel while West Texas Intermediate surged 5.9% to $72.05 a barrel.
Gold (GC=F) popped 0.9% to $3,434.40 an ounce.
A retaliatory attack from Iran against Israel is expected imminently, with a "special situation" being declared by the Isreali defense minister.
US Secretary of State Marco Rubio said Israel took "unilateral action", clarifying that the US was not involved in the strikes ahead of a sixth meeting between the US and Iran on Sunday.
Read more here.
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The Hill
35 minutes ago
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