Global Markets Slide As Iran-Israel Conflict Heats Up, Oil Soars

Rising Middle East tensions and President Donald Trump’s threats to Iran are flaring uncertainty in the global and U.S. markets. As a result, money is flowing from equities to safe-haven assets like gold.

Also, the crude oil price is soaring as rising conflict threatens OPEC crude supply.

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Asia Markets Today

On Friday, Japan’s Nikkei 225 closed 0.92% lower at 37,821.50, led by losses in the Paper & Pulp, Transport and Communication sectors.

Australia’s S&P/ASX 200 was down 0.21% at 8,547.40, led by losses in the IT, Healthcare, and Telecoms Services sectors.

India’s Nifty 50 was down 0.71% at 24,712.40, and the Nifty 500 slid 0.65% to 22,895.65.

China’s Shanghai Composite was down 0.75% at 3,377.00, and Shanghai Shenzhen CSI 300 fell 0.72% to 3,864.18.

Hong Kong’s Hang Seng closed the session 0.59% lower at 23,892.56.

Eurozone at 05:45 AM ET

The European STOXX 50 index was down 1.33%.

Germany’s DAX index declined 1.35%.

France’s CAC 40 fell 1.03%.

U.K.’s FTSE 100 index traded lower by 0.38%.

Commodities

At 05:45 AM ET, the crude Oil WTI was trading higher by 7.54% at $73.17/bbl, and Brent was up 74.38% at $74.31/bbl.

Oil prices surged over 7% on Friday, hitting multi-month highs after Israel struck Iran’s nuclear sites, prompting retaliation and fears of supply disruption.

Natural gas rose 1.03% to $3.529.

Gold traded higher by 1.24% to $3,444.40, Silver rose 0.54% to $36.493, and Copper fell 1.90% to $4.7440.

US Futures

At 05:45 AM ET, Dow Jones futures were down 1.14%, the S&P 500 declined 1.19%, and the Nasdaq 100 was down 1.48%.

U.S. stock futures fell after Israel’s strike on Iran raised Middle East tensions, spiking oil prices and boosting energy and defense stocks.

On Thursday, June 12, U.S. markets ended higher as optimism over artificial intelligence lifted investor sentiment. The S&P 500 gained ground, led by a surge in Oracle shares after the company raised its outlook on strong AI-related demand. Gains in tech and gold mining stocks offset worries over Middle East tensions and a decline in Boeing shares. Softer inflation and labor data boosted hopes for an interest rate cut.

According to the economic data, U.S. producer prices rose 0.1% in May, below the 0.2% forecast, after a revised 0.2% drop in April. Initial jobless claims held at 248,000, above expectations of 240,000.

Most S&P 500 sectors advanced Thursday, led by utilities, tech, and health care, while communication services and consumer discretionary lagged.