News that Israel attacked Iran overnight shook investor sentiment and sent stocks tumbling out of the gate Friday. Losses accelerated into the close after mid-afternoon reports indicated Iran launched retaliatory missiles toward Israel.
"A heightening of Middle Eastern tensions has investors running for cover," says José Torres, senior economist at Interactive Brokers. "The conflict is propelling inflation expectations via the cost of crude oil … on worries that supplies could be disrupted in the region."
