Dow Tumbles 800 Points as Iran Retaliates Against Israel

as risk appetite faded after Iran denounced Israel’s airstrikes as a “declaration of war” and responded with missile attacks late Friday local time.

The strikes targeted Iran’s nuclear and military facilities, significantly escalating geopolitical tensions and unsettling global markets.

The S&P 500 and Nasdaq each declined over 1%, while the Dow Jones tumbled over 800 points.

Financials and tech led the losses, with Nvidia down 2.3%, Apple off 1.5%, and Visa and Mastercard sliding over 4%.

Airline stocks also sank, with American, Delta, and United down between 4.5% and 5%.

Meanwhile, energy and defense shares outperformed as oil prices surged nearly 7% on supply concerns; Exxon rose 2%, and Lockheed Martin, RTX, and Northrop Grumman climbed more than 3%.

Despite the day’s selloff, major indexes remain on track for modest weekly gains, with the S&P 500 and Nasdaq both up 0.7% and the Dow ahead by 0.5%.