US stocks tanked after Israel and Iran carried out airstrikes
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US stocks tanked on Friday after Israel carried out airstrikes inside Iran, triggering a missile response that shook global markets and raised serious concerns about possible US military involvement. According to CNBC, the Israel Defense Forces confirmed late Friday that Iran had launched missiles targeting Israeli territory. Videos captured rockets heading toward Tel Aviv, but authorities have not yet confirmed if any struck their targets or were stopped by Israel’s air defense system. The fallout hit Wall Street fast. The Dow Jones Industrial Average plunged 769.83 points, a 1.8% drop. The S&P 500 lost 1.1%, and the Nasdaq Composite was down 1.3%. The losses wiped out earlier weekly gains and reversed a market rebound led by large-cap tech names. Source: TradingView Nvidia, which helped drive the recovery from April’s slump, took a hit as investors rushed out of high-growth assets. Defense and oil companies, on the other hand, saw strong demand. Exxon climbed 2%, while Lockheed Martin and RTX jumped nearly 3% each after the Closing Bell. Oil and gold surge after Israel-Iran exchange spooks traders Tensions exploded Friday afternoon when Defense Minister Israel Katz announced a state of emergency after the military confirmed its strike inside Iran. A report from NBC News quoted two US officials who said the United States was not involved in the operation and did not assist Israel. That didn’t stop speculation. Traders watching the region responded by dumping equities and moving into commodities. Oil markets moved fast. Brent crude and West Texas Intermediate (WTI) futures surged more than 7%. WTI came close to $74 a barrel before easing slightly. TD Securities commodity strategist Daniel Ghali told clients that these price moves already match other military crises dating back to the 1980s. He said, “Historically, geopolitical risks typically faded within one month, and completely evaporated…
Filed under: News - @ June 13, 2025 9:20 pm