Key Takeaways
- Israel’s strike on Iranian military sites rattled global markets and pushed traders into safer assets.
- Oil spiked sharply, with WTI above $75 as fears of supply disruption spread through energy markets.
- U.S. stocks held up, while Asian and European indices slipped on rising geopolitical tension.
- Bitcoin and major altcoins fell as investors pulled back from risk heading into the weekend.
Markets were thrown off balance on Friday after Israel carried out a coordinated strike on Iranian nuclear and military sites, a move that immediately raised the stakes in a region that has been tense for weeks.
Oil reacted first and fastest, with traders piling in almost instantly, sending WTI crude above $75.14, while Brent climbed roughly 7.5%. The market’s concerns weren’t complicated: any hint of trouble near the Strait of Hormuz tends to push people into assuming the worst for supply.
Meanwhile, gold caught a wave of safe-haven buying. Prices touched $3,440 before easing back to about $3,429.63 an ounce.
U.S. equities managed to hold up better than many expected, helped mostly by tech names and a bit of strength in energy.
The S&P 500 worked its way up to 6,045.25, the Dow squeezed out a gain to 42,967.62, and the Nasdaq inched to 19,662.48.
Nvidia, Microsoft, and Apple all posted small advances, with Apple at $199.20 and Microsoft at $478.87 by the close.
Overseas, the Nikkei fell to 37,690, and in Europe both the FTSE 100 and Euronext 100 drifted lower, down to 8,838 and 1,590.17 respectively, with traders there more exposed to the geopolitical shock.
Crypto didn’t escape the risk-off mood either. Bitcoin slipped to $104,023, and losses across Ethereum, Solana, and Binance Coin showed that traders were stepping back across the board. Ethereum finished around $2,506.23, Solana at $163.35, and BNB near $647.57, all reflecting a clear pullback.
In currency markets, the dollar firmed as it usually does when the world is under pressure. The euro was pushed down to 1.1521, the pound fell to 1.3532, and the yen hovered near 143.66.
Governments offered carefully worded reactions. The U.S. denied any role in the strike and urged all sides to avoid escalation, though diplomats privately worried that months of slow-moving negotiations could unravel in a matter of days.
Heading into the weekend, markets are basically waiting for Iran’s next move. A direct military reply, a cyber response, or even a strike carried out by a proxy group could shift the mood again and quickly. For now, traders are bracing for more headlines and hoping that things don’t get worse before markets reopen.
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