FX.co ★ US Stocks Fall as Israel Hits Iran

On Friday, the US stock market experienced significant downturns, with the S&P 500 and Nasdaq declining by 0.7% and the Dow Jones dropping nearly 500 points. This movement was largely attributed to investors flocking to safe-haven assets due to rising tensions in the Middle East. The tensions escalated as Israel executed a preemptive strike against Iran, focusing on nuclear facilities and vowing to persist until the perceived threat is eliminated. Airline stocks took a substantial hit, with American Airlines plummeting 4.8%, Delta Air Lines falling 4.5%, and United Airlines declining by 5%. Major technology companies similarly saw declines, as Nvidia fell by 1.4%, Microsoft dipped by 0.2%, Apple went down by 0.5%, Amazon dropped 1%, Meta reduced by 0.4%, Alphabet decreased by 1.1%, and Tesla decreased by 0.5%. Conversely, stocks in oil and defense sectors saw positive movement, with Exxon Mobil rising by 2.5%, Chevron increasing by 1.4%, and Lockheed Martin climbing 3.5%. Despite the cautious atmosphere that prevailed on Friday, the key indexes still appear poised for moderate weekly gains. The S&P 500 increased nearly 0.7%, the Nasdaq is up by 0.7%, and the Dow Jones has advanced by 0.5%.