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Dow Jones Index Falls on New Middle East Tensions

Dow Jones Index Falls on New Middle East Tensions

 


  • U.S. stocks fell Friday following reports of a potential Iranian attack on Israel.
  • Fears of escalating tensions in the Middle East have pushed oil prices higher and interest rates lower.
  • Investors also digested the first quarter results and were not impressed.

U.S. stocks sold off Friday, with the Dow Jones Industrial Average falling nearly 500 points on fears of a possible Iranian attack on Israel.

US intelligence reports indicated thata potential attack on Israel by Iran or its proxies was imminent in the coming days. This information, confirmed by an American official, specified that a possible drone strike against Israel could target “possibly on Israeli soil” rather than Israeli interests outside the country.

Such an attack would come shortly after Israel launched a missile strike that killed seven Iranian service members in Syria.

Fears of escalating tensions in the Middle East have sent oil prices higher and bond yields lower.

Investors also digested the first set of first-quarter results and were not impressed. Megabanks JPMorgan, Wells Fargo and Citigroup all reported better-than-expected results but saw significant selling of their shares, with JPMorgan falling more than 6%.

Here's where the US indexes stood at the 4:00 p.m. closing bell on Friday:

Here's what happened today:

In commodities, bonds and cryptocurrencies:

  • West Texas Intermediate crude oil jumped 0.49% to $85.44 a barrel. Brent crude, the international benchmark, climbed 0.48% to $90.17 per barrel.
  • Gold fell 0.57% to $2,359.40 an ounce.
  • The 10-year Treasury yield fell 6 basis points to 4.52%.
  • Bitcoin fell 4.50% to $66,874.

Sources

1/ https://Google.com/

2/ https://markets.businessinsider.com/news/stocks/stock-market-today-middle-east-israel-iran-attack-oil-prices-2024-4

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