Wall Street was shaken on friday after Israel's missile attack on Iran. israel had launched strong attacks targeting important establishments in Tehran to stop iran from making nuclear weapons. In response to this, iran also retaliated strongly, after which the sound of Israeli siren was heard while the sound of explosions kept coming in Jerusalem.
On one hand, global investors are scared due to the attacks and counterattacks being carried out by israel and iran on each other, while on the other hand, tension has increased a lot in the Middle East.
Tension increased further in the Middle East
It is believed that if attacks on each other continue like this, then the supply of crude oil from the Middle east may be disrupted. This is the reason why as soon as israel attacked iran, the price of crude oil went up by 7 percent. Due to the continuous increase in fuel prices, airline stocks are witnessing a decline. United airlines has fallen by 4.4 percent, American airlines by 4.9 percent and Delta airlines by 3.8 percent. However, defense stocks including RTX Corporation have seen a rise since the Israeli attack.
Rise in energy stocks
The energy sector seems to be in high spirits due to the Israeli attack on Iran. Diamondback Energy has shown a jump of 3.7 percent and Exxon by about 2 percent. Whereas the S&P 500 index slipped 1.13 percent on Friday. Nasdaq also fell by 1.30 percent and Dow Jones Industrial Average fell by 1.79 percent. Market experts believe that if all this continues in this way, the situation can become serious. Brown Brothers Harriman's senior market analyst Elias Haddad says that if this situation continues, we can get trapped in a full-fledged military conflict..jpg)
click and follow Indiaherald WhatsApp channel