Israel-Iran Conflict Roils Global Markets | JQJO

Escalating tensions between Israel and Iran sent global markets into turmoil on Friday. Following Israeli strikes on Iranian nuclear and military sites, oil prices surged to their highest single-day increase in years, with US oil up 7.26% and Brent crude up 7%. This fueled investor anxieties, leading to a stock market downturn. The Dow Jones dropped 1.79%, the S&P 500 fell 1.13%, and the Nasdaq Composite slid 1.3%. Investors sought safe havens in gold, which rose 1.4%. Concerns center on potential wider conflicts impacting oil supplies through the Strait of Hormuz and the possibility of further Iranian retaliation.