Dow Jones slides amid escalating Israel-Iran conflict, oil prices soar
Wall Street’s major indices opened sharply lower on Friday as a deadly Israeli strike on Iranian nuclear facilities heightened tensions in West Asia, shaking global markets and pushing oil prices higher. The Dow Jones Industrial Average fell 388.1 points, or 0.90%, to 42,579.48 at the opening bell. The S&P 500 dropped 44.7 points, or 0.74%, to 6,000.56, while the Nasdaq Composite slipped 211.6 points, or 1.08%, to 19,450.93. The market sell-off came as crude oil prices surged nearly 8%, driven by fears of broader retaliatory attacks across the oil-rich region. Despite the turmoil, Iran’s national oil company confirmed that its refining and storage facilities remained undamaged and fully operational.
The Israeli military launched a barrage of strikes across Iran early Friday, claiming it targeted nuclear facilities, missile factories, and killed several top military commanders. The operation, according to Israeli officials, was aimed at thwarting Tehran’s ability to develop nuclear weapons and may be extended. While the U.S. denied any involvement, US President Donald Trump said Iran had triggered the attack by failing to respond to a U.S. ultimatum regarding its nuclear program. “Two months ago I gave Iran a 60-day ultimatum to ‘make a deal’. They should have done it! Today is day 61 … Now they have, perhaps, a second chance,” Trump wrote on Truth Social. He also added, “I told them it would be much worse than anything they know, anticipated, or were told… There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end.”
“There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end,” Mr. Trump said in a post on his social media platform.
Iran vowed a “harsh response” to the Israeli offensive, which reportedly killed the heads of its armed forces and the elite Revolutionary Guards. Israel, in turn, said about 100 drones were launched toward its territory in retaliation—claims which an Iranian source has denied.