Breaking: Israel’s strikes on Iranian nuclear sites triggered massive oil price surge and global market selloff Friday.
Brent crude oil jumped over 7% to $74+ per barrel as investors fear wider Middle East conflict. Stock futures crashed – S&P 500, Dow, and Nasdaq each dropped 1%.
Flight to safety assets: Gold rose 1%, dollar strengthened as panic selling hit global markets. European and Asian stocks fell sharply.
Iran retaliated with drone strikes, escalating geopolitical tensions that could disrupt oil supplies. Auto stocks suffered additional losses after Trump mentioned higher vehicle tariffs.
Meanwhile, consumer sentiment remains near record lows amid inflation concerns, despite recent US-China trade truce restoration.
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