New York — The U.S. stock market opened with a thud Friday morning as a wave of panic swept through global financial circles. A sudden military escalation between Israel and Iran and a deadly crash involving a Boeing jet shook investor confidence, pushing the Dow down more than 700 points at the open.
The S&P 500 and Nasdaq both tumbled over 1%, dragged lower by steep losses in tech, aviation, and financial stocks. Investors sought safety in gold and government bonds, while oil prices surged nearly 7% on fears of a disrupted Middle East oil supply.
Early Friday, Israel confirmed it had struck multiple strategic sites inside Iran, including nuclear and missile infrastructure. Several Iranian commanders were reportedly killed. The airstrikes, the most significant in years, raised fears of a prolonged conflict that could rattle global energy markets and diplomatic alliances.
Meanwhile, back on the markets, Boeing found itself at the center of another tragedy. An Air India Boeing 787-8 Dreamliner, headed from Ahmedabad to London, crashed shortly after takeoff, killing over 240 people. Only one survivor was found in the wreckage. The crash site—a medical college hostel—has added to the public horror and raised fresh questions about Boeing’s long-troubled aircraft line.
Shares of Boeing dropped more than 3% at the opening bell. Airline stocks took a beating, with Delta, United, and American Airlines each down over 4% as fuel prices rose and travel sentiment soured.
“This is the kind of storm investors dread,” said one Wall Street strategist. “You’ve got geopolitical risk, oil inflation risk, and a major corporate liability event—all in one trading session.”
Energy and defense stocks were among the few gainers. Lockheed Martin and Northrop Grumman saw shares rise more than 3% as markets priced in potential military spending. ExxonMobil and Chevron also rallied on the back of surging crude prices.
With both war and aviation safety now dominating headlines, Wall Street is bracing for a volatile trading day—and possibly a volatile summer.
