US stock markets waver after Iran missile strikes, oil prices rise; potential risk-off reactions expected

From Yahoo Finance: 2025-06-23 13:09:00

President Trump confirmed the US launched a surprise strike on Iran’s nuclear sites, escalating tensions in the Middle East. Markets held steady after the news, but US stock futures fell. Bitcoin prices dropped over 1.6%, while WTI and Brent crude futures jumped. Oil saw a third consecutive week of gains. Analysts warn of potential risk-off reactions in US equities and a spike in oil prices. Energy sectors tend to outperform during oil price increases, while consumer discretionary and communication services lag behind. Analysts caution that oil prices above $80 a barrel could impact stock markets. Options markets now price in a 10% chance of a 20% surge in oil prices in the next month. Despite the volatility, markets remain resilient.



Read more at Yahoo Finance: Dow, S&P 500, Nasdaq waver, oil prices trim gains after report of Iran missile strikes aimed at US air bases