Strikes by the United States and Israel against Iran sent markets into a spin this morning, with oil futures surging and stock futures sliding.
Today, US crude surged by 7.5%, while Brent crude, the global benchmark, increased by 6.2% to approximately $77 a barrel, after briefly exceeding $82 earlier in the session.
US stock futures fell, with Dow Jones Industrial Average futures down 1.2%, or more than 500 points. S&P 500 futures sank 1.1%, while Nasdaq 100 futures dived 1.4%.
Gold futures increased as investors sought safe haven assets, with energy and defense stocks also rising in premarket trading.
Shares in energy giant Exxon rose in premarket trading, while defense stocks like Lockheed Martin also attracted buyers.
The weekend attacks have also spread to the Middle East, causing global chaos in the airline industry, with thousands of travelers stranded and flights canceled.
By CEO NA Editorial Staff
