- U.S. stocks fell on Friday after reports of a possible Iranian attack on Israel.
- Oil prices rose and interest rates fell on concerns about escalating tensions in the Middle East.
- Investors also digested the first part of the first quarter results and were not impressed.
Concerns over a possible Iranian attack on Israel sold off U.S. stocks on Friday, with the Dow Jones Industrial Average dropping nearly 500 points.
A US intelligence report indicated that a possible attack on Israel by Iran or its proxies is imminent within days. The report, confirmed by US officials, specified that a potential drone attack on Israel could target “possibly Israeli soil” rather than Israeli interests abroad.
Such an attack would come shortly after Israel launched a missile attack in Syria that killed seven Iranian military personnel.
Oil prices rose and bond yields fell on concerns about escalating tensions in the Middle East.
Investors also digested the first round of first-quarter results and were not impressed. Megabanks JPMorgan, Wells Fargo and Citigroup all reported stronger-than-expected results, but their stock prices fell sharply, with JPMorgan falling more than 6%.
Here are the U.S. indices as of Friday’s close at 4 p.m.
Here’s what else happened today:
In Commodities, Fixed Income and Cryptocurrencies:
- West Texas Intermediate crude oil rose 0.49% to $85.44 a barrel. The international benchmark Brent crude oil rose 0.48% to $90.17 per barrel.
- Gold fell 0.57% to $2,359.40 per ounce.
- The yield on the 10-year Treasury note fell 6 basis points to 4.52%.
- Bitcoin fell 4.50% to $66,874.
