Catenaa, Friday, June 13, 2025- US stocks fell on Friday as Israel’s attack on Iran’s nuclear facilities shook global markets, leading oil prices and gold prices to spike amidst uncertainty.
The Dow Jones Industrial Average tumbled roughly 1.4%, the S&P 500 dropped 0.9%, while the Nasdaq Composite fell by 0.9%, as investors withdrew from riskier assets.
Israel conducted what it called a “preemptive strike” against Iran, citing fears over the development of nuclear weapons in Tehran. Crude oil prices soared as much as 13% as the strikes hit the third-largest OPEC producer. The safe-haven asset of gold jumped over 1.5%.
Magnificent seven stocks such as Tesla and Meta fell by 0.5% while Nvidia fell by 2% and Google by 0.7%.
Israel’s Prime Minister, Benjamin Netanyahu, has vowed that the operation against Iran’s nuclear and military facilities would continue “for as many days as it takes,” stoking fears of escalation.
In response, Iran described the strikes as a “declaration of war” in a letter to the United Nations, AFP reported. It has also launched a drone attack on Israel, seen by some as a precursor to a more severe missile onslaught.
President Trump urged Iran to “make a deal” over its nuclear program to avert further conflict, in a post on social media. “JUST DO IT, BEFORE IT IS TOO LATE,” he wrote.
Earlier, Secretary of State Marco Rubio said Israel took “unilateral action” with no US involvement, as he warned Iran against targeting US interests and personnel.
The dramatic developments came as stocks have been creeping higher despite questions around Trump’s domestic agenda, as he hinted at steps that could rattle markets.
