Wall Street woke up on Friday, June 13, 2025, with a serious case of the jitters. Israel’s airstrikes on Iran sent stocks tumbling faster than a barrel of oil rolling downhill. The Dow Jones Industrial Average nosedived 606 points, a 1.4% plunge, while the S&P 500 and Nasdaq 100 futures shed 0.9% and 1%, respectively.
Investors ditched their riskier bets as if they were last week’s leftovers. Nvidia and Tesla, the market’s former darlings, took a beating. Meanwhile, oil and defense stocks decided it was their time to shine, with Exxon climbing over 2%, Chevron gaining 1%, and Lockheed Martin strutting up 3%.
Israel’s defense minister, Israel Katz, hit the emergency button after the strikes. Two U.S. officials, according to NBC News, confirmed Uncle Sam stayed out of this one. No surprise—nobody wants to be the third wheel in this geopolitical spat.
Oil prices, however, were the real drama queens. Brent crude and West Texas Intermediate futures both skyrocketed more than 8%, with WTI teasing $74 a barrel. Gold, the market’s favorite security blanket, also hit a near two-month high as investors scrambled for safety.
Mark Malek, chief investment officer at Siebert Financial, didn’t mince words. “This conflict is just another headache for markets already juggling a dozen migraines,” he said. He warned that persistent high oil prices could send inflation numbers soaring faster than a fighter jet.
Over on Truth Social, President Donald Trump was typing up a storm. He urged Iran to “come to the negotiating table” before things get uglier. “No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE,” he posted, sounding like a motivational speaker with a nuclear deadline.
Trump didn’t stop there. He reminded Iran of a 60-day ultimatum he issued two months ago for a nuclear deal. “Today is day 61,” he noted, as if Iran missed the memo and overslept.
Before Friday’s chaos, stocks were actually having a decent week. The S&P 500 was up nearly 0.8% and flirting with an all-time high. But Israel’s airstrikes threw a wrench in that party, leaving markets sulking.
The oil market was the loudest complainer. Iran, a major OPEC player, produces enough crude to make traders sweat when tensions rise. With prices spiking, analysts warned of potential disruptions, especially if Iran decides to mess with the Strait of Hormuz, a key oil shipping route.
Gold’s glow-up wasn’t just for show. Investors piling into safe-haven assets pushed prices to levels not seen in weeks. It’s as if gold whispered, “Don’t worry, I’ve got you,” while stocks were busy panicking.
Energy stocks, meanwhile, were living their best life. The surge in oil prices gave Exxon and Chevron a nice boost. Defense stocks like Lockheed Martin also got a pat on the back, as geopolitical tensions tend to be their bread and butter.
Across the globe, markets caught the same cold. Asian and European bourses dropped over 1% each, proving fear is a universal language. Even bitcoin, usually the wild child of assets, took a 3% hit after the strikes.
Analysts are now glued to their screens, waiting for Iran’s next move. Some fear retaliation could escalate things further, potentially choking off oil supplies. Others, like Phil Flynn from Price Futures Group, noted that past flare-ups often see oil prices spike then cool off, but nobody’s betting on calm just yet.
The airstrikes targeted Iran’s nuclear facilities and military sites, raising the stakes. Iran called it a “declaration of war,” which didn’t exactly soothe anyone’s nerves. Airlines, spooked by the chaos, cleared out of airspace over Israel, Iran, and Iraq, according to Flightradar24.
Freight rates for oil tankers also jumped, with bets on Middle East crude shipping costs rising 15%. Traders are bracing for a bumpy ride if the conflict disrupts global oil flows. Nobody wants to be caught short when 20% of the world’s seaborne crude passes through the Strait of Hormuz.
Back in the U.S., the market’s mood swing erased weekly gains. The Dow, S&P, and Nasdaq were all set for a winning week before this mess. Now, investors are left wondering if they should’ve just stayed in bed.
As the dust settles—or doesn’t—markets are on edge. Oil prices could climb higher if Iran retaliates, and inflation might get a rude awakening.
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