Wall Street's main indexes fell on Friday after Israel's deadly strike on Iranian nuclear facilities inflamed tensions in the oil-rich Middle East and battered risk sentiment across global markets.
Israel has warned that the widescale strikes were the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran has promised a harsh response.
Oil prices surged nearly 7% on fears the conflict could disrupt crude supply from the Middle East. U.S. energy stocks rose in tandem, with Exxon (NYSE:XOM) up 1.7%.
Airline stocks dropped as fuel costs could surge if supply bottlenecks materialize. Delta Air Lines (NYSE:DAL) was down 3.7%, United Airlines dropped 4.4%, and American Airlines (NASDAQ:AAL) declined 4.7%.
Defense stocks climbed, with Lockheed Martin (NYSE:LMT), RTX Corporation, Northrop Grumman (NYSE:NOC) gaining between 2.2% and 3.2%.
"We have major domestic policy uncertainty and now on top of that, you have geopolitical unrest, which not only is impacting oil markets, but the broader risk premium," said Eric Teal, chief investment officer at Comerica (NYSE:CMA) Wealth Management.
Washington said it had no part in the operation, but President Donald Trump suggested Iran had brought the attack on itself by resisting U.S. demands to restrict its nuclear
program.
Trump also urged Iran to make a deal, saying "the next already planned attacks" will be "even more brutal".
Israeli Prime Minister Benjamin Netanyahu's office said he would speak to Trump later in the day.
Source: Invesing.com
The three major US stock averages fluctuated between small gains and losses on Wednesday, attempting to rebound from Tuesday's weak session, when concerns over lofty AI valuations weighed on sentiment...
European stocks opened lower on Wednesday (November 5th), reflecting a global downturn amid growing concerns over sky-high tech valuations. The pan-European Stoxx 600 Index was down 0.4% at 8:20 a.m....
Asia-Pacific markets declined on Wednesday, following a decline on Wall Street, which was driven by concerns about the valuations of artificial intelligence (AI) stocks. Shares of Palantir, a major pl...
US stocks tumbled on Tuesday, with the S&P 500 down 1.1%, the Nasdaq shedding 2.1%, and the Dow losing about 240 points, as investors grew increasingly uneasy over stretched valuations in AI-drive...
European stocks slipped mostly lower Tuesday, with investors locking in some profits on the back of an uncertain economic outlook and with more corporate earnings to digest. The DAX index in Germany ...
Silver traded above $47.5 per ounce on Wednesday, snapping a three-day losing streak as global risk-off sentiment spurred demand for safe-haven assets. Global equities and other risk assets fell sharply amid concerns over stretched valuations and...
Gold (XAU/USD) holds steady within familiar ranges on Wednesday as a mild risk-off tone across global markets underpins demand for the safe-haven metal. At the time of writing, XAU/USD is trading around $3,975, recovering modestly from Tuesday's...
The U.S. dollar edged up on Wednesday, extending its gains from last week on doubts about the outlook for another Fed rate cut this year and as private payrolls data assuaged worries over the state of the labor market. U.S. private payrolls rose...
Asian stocks opened lower on Tuesday, reversing Wall Street's rally fueled by Amazon's massive $38 billion deal with OpenAI. Stock markets in South...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
Asia-Pacific markets declined on Wednesday, following a decline on Wall Street, which was driven by concerns about the valuations of artificial...