Wall Street falls amid Israel-Iran conflict
Israel has warned that the widescale strikes were the start of a prolonged operation to prevent Iran from building an atomic weapon.
Iran has promised a harsh response.
Oil prices surged nearly 7.0 per cent on fears the conflict could disrupt crude supply from the Middle East.
US energy stocks rose in tandem, with Exxon up 1.7 per cent.
Airline stocks dropped as fuel costs could surge if supply bottlenecks materialise.
Delta Air Lines was down 3.7 per cent, United Airlines dropped 4.4 per cent and American Airlines declined 4.7 per cent.
Defence stocks climbed, with Lockheed Martin, RTX Corporation, Northrop Grumman gaining between 2.2 per cent and 3.2 per cent.
"We have major domestic policy uncertainty and now on top of that, you have geopolitical unrest, which not only is impacting oil markets but the broader risk premium," said Eric Teal, chief investment officer at Comerica Wealth Management.
US President Donald Trump urged Iran to make a deal, saying "the next already planned attacks" will be "even more brutal".
Israeli Prime Minister Benjamin Netanyahu's office said he would speak to Trump later in the day.
In early trading on Friday, the Dow Jones Industrial Average fell 659.45 points, or 1.52 per cent, to 42,313.10, the S&P 500 lost 60.38 points, or 1.00 per cent, to 5,984.88 and the Nasdaq Composite lost 227.71 points, or 1.16 per cent, to 19,435.01.
Ten of the 11 major S&P 500 sub-sectors fell, with only energy stocks gaining 1.2 per cent.
Financials declined the most, with a 2.1 per cent fall.
Information technology lost 1.3 per cent.
Adobe fell 6.6 per cent despite the Photoshop maker raising its full-year results forecast.
Most megacap and growth stocks declined.
Nvidia was down 2.1 per cent, Apple fell 1.5 per cent and Amazon lost 1.3 per cent.
Visa shares hit an over four-week low and were last down 5.9 per cent.
US-listed shares of gold miners rose tracking a rise in bullion prices.
Newmont gained 2.2 per cent while AngloGold Ashanti rose 2.1 per cent.
The S&P 500 remains 2.6 per cent below its record high reached earlier this year, following stellar monthly gains in May driven by upbeat corporate earnings and a softening in Trump's trade stance.
The tech-heavy Nasdaq is about 3.8 per cent off its record closing high reached in December last year.
A tame consumer price report, softer-than-expected producer price data and largely unchanged initial jobless claims earlier this week helped calm investor jitters around tariff-driven price pressures.
However, Federal Reserve policymakers are widely expected to keep rates unchanged at their meeting next week.
A University of Michigan survey showed consumer sentiment increased to 60.5 for June from the previous month, according to a preliminary estimate.
Declining issues outnumbered advancers by a 3.88-to-1 ratio on the NYSE and by a 4.4-to-1 ratio on the Nasdaq.
The S&P 500 posted 8 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 18 new highs and 70 new lows.
Wall Street's main indexes have fallen after Israel's deadly strike on Iranian nuclear facilities inflamed tensions in the oil-rich Middle East and battered risk sentiment across global markets.
Israel has warned that the widescale strikes were the start of a prolonged operation to prevent Iran from building an atomic weapon.
Iran has promised a harsh response.
Oil prices surged nearly 7.0 per cent on fears the conflict could disrupt crude supply from the Middle East.
US energy stocks rose in tandem, with Exxon up 1.7 per cent.
Airline stocks dropped as fuel costs could surge if supply bottlenecks materialise.
Delta Air Lines was down 3.7 per cent, United Airlines dropped 4.4 per cent and American Airlines declined 4.7 per cent.
Defence stocks climbed, with Lockheed Martin, RTX Corporation, Northrop Grumman gaining between 2.2 per cent and 3.2 per cent.
"We have major domestic policy uncertainty and now on top of that, you have geopolitical unrest, which not only is impacting oil markets but the broader risk premium," said Eric Teal, chief investment officer at Comerica Wealth Management.
US President Donald Trump urged Iran to make a deal, saying "the next already planned attacks" will be "even more brutal".
Israeli Prime Minister Benjamin Netanyahu's office said he would speak to Trump later in the day.
In early trading on Friday, the Dow Jones Industrial Average fell 659.45 points, or 1.52 per cent, to 42,313.10, the S&P 500 lost 60.38 points, or 1.00 per cent, to 5,984.88 and the Nasdaq Composite lost 227.71 points, or 1.16 per cent, to 19,435.01.
Ten of the 11 major S&P 500 sub-sectors fell, with only energy stocks gaining 1.2 per cent.
Financials declined the most, with a 2.1 per cent fall.
Information technology lost 1.3 per cent.
Adobe fell 6.6 per cent despite the Photoshop maker raising its full-year results forecast.
Most megacap and growth stocks declined.
Nvidia was down 2.1 per cent, Apple fell 1.5 per cent and Amazon lost 1.3 per cent.
Visa shares hit an over four-week low and were last down 5.9 per cent.
US-listed shares of gold miners rose tracking a rise in bullion prices.
Newmont gained 2.2 per cent while AngloGold Ashanti rose 2.1 per cent.
The S&P 500 remains 2.6 per cent below its record high reached earlier this year, following stellar monthly gains in May driven by upbeat corporate earnings and a softening in Trump's trade stance.
The tech-heavy Nasdaq is about 3.8 per cent off its record closing high reached in December last year.
A tame consumer price report, softer-than-expected producer price data and largely unchanged initial jobless claims earlier this week helped calm investor jitters around tariff-driven price pressures.
However, Federal Reserve policymakers are widely expected to keep rates unchanged at their meeting next week.
A University of Michigan survey showed consumer sentiment increased to 60.5 for June from the previous month, according to a preliminary estimate.
Declining issues outnumbered advancers by a 3.88-to-1 ratio on the NYSE and by a 4.4-to-1 ratio on the Nasdaq.
The S&P 500 posted 8 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 18 new highs and 70 new lows.
Wall Street's main indexes have fallen after Israel's deadly strike on Iranian nuclear facilities inflamed tensions in the oil-rich Middle East and battered risk sentiment across global markets.
Israel has warned that the widescale strikes were the start of a prolonged operation to prevent Iran from building an atomic weapon.
Iran has promised a harsh response.
Oil prices surged nearly 7.0 per cent on fears the conflict could disrupt crude supply from the Middle East.
US energy stocks rose in tandem, with Exxon up 1.7 per cent.
Airline stocks dropped as fuel costs could surge if supply bottlenecks materialise.
Delta Air Lines was down 3.7 per cent, United Airlines dropped 4.4 per cent and American Airlines declined 4.7 per cent.
Defence stocks climbed, with Lockheed Martin, RTX Corporation, Northrop Grumman gaining between 2.2 per cent and 3.2 per cent.
"We have major domestic policy uncertainty and now on top of that, you have geopolitical unrest, which not only is impacting oil markets but the broader risk premium," said Eric Teal, chief investment officer at Comerica Wealth Management.
US President Donald Trump urged Iran to make a deal, saying "the next already planned attacks" will be "even more brutal".
Israeli Prime Minister Benjamin Netanyahu's office said he would speak to Trump later in the day.
In early trading on Friday, the Dow Jones Industrial Average fell 659.45 points, or 1.52 per cent, to 42,313.10, the S&P 500 lost 60.38 points, or 1.00 per cent, to 5,984.88 and the Nasdaq Composite lost 227.71 points, or 1.16 per cent, to 19,435.01.
Ten of the 11 major S&P 500 sub-sectors fell, with only energy stocks gaining 1.2 per cent.
Financials declined the most, with a 2.1 per cent fall.
Information technology lost 1.3 per cent.
Adobe fell 6.6 per cent despite the Photoshop maker raising its full-year results forecast.
Most megacap and growth stocks declined.
Nvidia was down 2.1 per cent, Apple fell 1.5 per cent and Amazon lost 1.3 per cent.
Visa shares hit an over four-week low and were last down 5.9 per cent.
US-listed shares of gold miners rose tracking a rise in bullion prices.
Newmont gained 2.2 per cent while AngloGold Ashanti rose 2.1 per cent.
The S&P 500 remains 2.6 per cent below its record high reached earlier this year, following stellar monthly gains in May driven by upbeat corporate earnings and a softening in Trump's trade stance.
The tech-heavy Nasdaq is about 3.8 per cent off its record closing high reached in December last year.
A tame consumer price report, softer-than-expected producer price data and largely unchanged initial jobless claims earlier this week helped calm investor jitters around tariff-driven price pressures.
However, Federal Reserve policymakers are widely expected to keep rates unchanged at their meeting next week.
A University of Michigan survey showed consumer sentiment increased to 60.5 for June from the previous month, according to a preliminary estimate.
Declining issues outnumbered advancers by a 3.88-to-1 ratio on the NYSE and by a 4.4-to-1 ratio on the Nasdaq.
The S&P 500 posted 8 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 18 new highs and 70 new lows.
Wall Street's main indexes have fallen after Israel's deadly strike on Iranian nuclear facilities inflamed tensions in the oil-rich Middle East and battered risk sentiment across global markets.
Israel has warned that the widescale strikes were the start of a prolonged operation to prevent Iran from building an atomic weapon.
Iran has promised a harsh response.
Oil prices surged nearly 7.0 per cent on fears the conflict could disrupt crude supply from the Middle East.
US energy stocks rose in tandem, with Exxon up 1.7 per cent.
Airline stocks dropped as fuel costs could surge if supply bottlenecks materialise.
Delta Air Lines was down 3.7 per cent, United Airlines dropped 4.4 per cent and American Airlines declined 4.7 per cent.
Defence stocks climbed, with Lockheed Martin, RTX Corporation, Northrop Grumman gaining between 2.2 per cent and 3.2 per cent.
"We have major domestic policy uncertainty and now on top of that, you have geopolitical unrest, which not only is impacting oil markets but the broader risk premium," said Eric Teal, chief investment officer at Comerica Wealth Management.
US President Donald Trump urged Iran to make a deal, saying "the next already planned attacks" will be "even more brutal".
Israeli Prime Minister Benjamin Netanyahu's office said he would speak to Trump later in the day.
In early trading on Friday, the Dow Jones Industrial Average fell 659.45 points, or 1.52 per cent, to 42,313.10, the S&P 500 lost 60.38 points, or 1.00 per cent, to 5,984.88 and the Nasdaq Composite lost 227.71 points, or 1.16 per cent, to 19,435.01.
Ten of the 11 major S&P 500 sub-sectors fell, with only energy stocks gaining 1.2 per cent.
Financials declined the most, with a 2.1 per cent fall.
Information technology lost 1.3 per cent.
Adobe fell 6.6 per cent despite the Photoshop maker raising its full-year results forecast.
Most megacap and growth stocks declined.
Nvidia was down 2.1 per cent, Apple fell 1.5 per cent and Amazon lost 1.3 per cent.
Visa shares hit an over four-week low and were last down 5.9 per cent.
US-listed shares of gold miners rose tracking a rise in bullion prices.
Newmont gained 2.2 per cent while AngloGold Ashanti rose 2.1 per cent.
The S&P 500 remains 2.6 per cent below its record high reached earlier this year, following stellar monthly gains in May driven by upbeat corporate earnings and a softening in Trump's trade stance.
The tech-heavy Nasdaq is about 3.8 per cent off its record closing high reached in December last year.
A tame consumer price report, softer-than-expected producer price data and largely unchanged initial jobless claims earlier this week helped calm investor jitters around tariff-driven price pressures.
However, Federal Reserve policymakers are widely expected to keep rates unchanged at their meeting next week.
A University of Michigan survey showed consumer sentiment increased to 60.5 for June from the previous month, according to a preliminary estimate.
Declining issues outnumbered advancers by a 3.88-to-1 ratio on the NYSE and by a 4.4-to-1 ratio on the Nasdaq.
The S&P 500 posted 8 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 18 new highs and 70 new lows.
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