FX.co ★ Dow Tumbles 800 Points as Iran Retaliates Against Israel

U.S. stocks experienced a substantial decline on Friday as investor risk tolerance diminished following Iran's condemnation of Israel's airstrikes, labeling them a "declaration of war." In response, Iran launched missile attacks late Friday local time, targeting its nuclear and military sites, which significantly increased geopolitical tensions and unsettled global markets. The S&P 500 and Nasdaq each dropped by over 1%, while the Dow Jones plummeted more than 800 points. The financial and technology sectors led the downturn, with Nvidia experiencing a 2.3% decrease, Apple declining by 1.5%, and Visa and Mastercard both sliding over 4%. Airline stocks suffered as well, with American, Delta, and United falling between 4.5% and 5%. Conversely, energy and defense stocks outperformed as oil prices soared nearly 7% due to supply concerns; Exxon gained 2%, and Lockheed Martin, RTX, and Northrop Grumman rose more than 3%. For the week, the S&P 500 has increased by 0.5%, while the Dow and Nasdaq are on track to lose 1.5% and 0.8%, respectively.