The major averages closed sharply lower on this Friday the 13th after Israel launched a wave of airstrikes on Iran and Iran retaliated, pushing energy prices higher and adding another complication at a time of heightened geopolitical tensions. The Dow Jones Industrial Average fell 769 points, or 1.7%. The S&P 500 fell 68 points or 1.13% while the Nasdaq fell 255 points or 1.3%.
The major averages were lower to start the day and sharply lower overnight. Israel launched a blistering attack on the heart of Iran’s nuclear and military structure overnight using warplanes and drones smuggled into the country targeting key facilities while also killing a number of top generals and nuclear scientists.
The price of oil jumped 7% today lifting the energy sector. The military defense stocks were also higher.
Tech and the banks got hit today.
Gold is higher today while bitcoin is down 1.5%.
Friday’s sell-off dragged the major averages into negative territory on the week. The S&P 500 fell 0.4%, while the Nasdaq slid 0.6%. The Dow fell 1.3% for the week.
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