From Yahoo Finance: 2025-06-12 23:17:00

Oil prices surged as stocks plummeted on fears of global economic damage from escalating violence following Israel’s attack on Iranian nuclear and military targets. The S&P 500 fell 1.1% and the Dow dropped 769 points. Oil prices jumped 7.3% for U.S. crude and 7% for Brent crude.

Iran, a major oil producer, faces the potential for supply disruptions, affecting global oil prices. Analysts highlight the risk of disruptions in the Strait of Hormuz. Past conflicts have seen initial oil price spikes, but prices may stabilize if the situation does not escalate.

Stock prices fell as U.S. oil producers rose on increased tensions between Israel and Iran. Exxon Mobil and ConocoPhillips saw gains, while defense contractors like Lockheed Martin also rallied. Cruise operators and airlines experienced losses due to concerns about fuel costs and customer confidence.

Gold prices rose as investors sought safer assets, while Treasury bond prices fell, pushing yields higher. Inflation fears intensified due to rising oil prices. A positive consumer sentiment report and Trump’s tariff pause boosted yields. Adobe’s stock fell despite strong profits, as revenue forecasts disappointed.

Global stock markets dropped, with European and Asian indexes facing losses. France’s CAC 40 and Germany’s DAX were among the hardest hit. The S&P 500, Dow Jones, and Nasdaq all experienced significant declines. Oil price volatility and geopolitical tensions continue to impact financial markets worldwide.

Read more: Oil prices leap 7% and US stocks slump more than 1% on worries about the crude market