US Stocks Drop as Israel Strikes Iran
US stocks fell on Friday, with the S&P 500 and Nasdaq down 0.7% and the Dow Jones down nearly 500 points, amid a flight to safe havens driven by rising tensions in the Middle East.
Israel launched a preemptive strike on Iran, targeting a nuclear facility and vowing to continue operations until the threat is neutralized. Airline stocks fell sharply, with American Airlines down 4.8%, Delta Air Lines down 4.5% and United Airlines down 5%.
Megacap technology stocks also fell, including Nvidia (-1.4%), Microsoft (-0.2%), Apple (-0.5%), Amazon (-1%), Meta (-0.4%), Alphabet (-1.1%), and Tesla (-0.5%). Oil and defense stocks, on the other hand, rose, including Exxon Mobil (+2.5%), Chevron (+1.4%), and Lockheed Martin (+3.5%). Despite Friday’s risk-off sentiment, the major indexes remained on track to post modest weekly gains. The S&P 500 rose nearly 0.7%, the Nasdaq gained 0.7% and the Dow Jones rose 0.5%. (alg)
Source: Trading Economics
