3 min ago
US stocks move sharply lower as Iran retaliates
From CNN’s Lucy Bayly and John Towfighi
The Dow fell 868 points, or 2%, this afternoon as geopolitical tension worsened in the Middle East.
Iran said it had fired “hundreds of various ballistic missiles” toward Israel in response to Israeli attacks on the country Friday morning, according to Iran’s official news agency, IRNA.
Global markets have been on edge since early in the day after Israel launched an unprecedented attack on Iran, targeting its nuclear program and military leaders.
By early afternoon Friday the broader S&P 500 had dropped 1.2% and the tech-heavy Nasdaq Composite slid 1.4%.
The oil market also responded Friday, in one of the market’s largest single-day increases in years, reflecting fears that a wider conflict in the Middle East could lead to serious energy supply disruptions.