Stocks Slumped at Open amid Geopolitical Tensions

U.S. stocks slumped at the open on Friday as geopolitical tensions ratcheted up in the Middle East following a U.S. airstrike killed a top Iranian general. The Dow Jones Industrial Average lately dropped 192.91 points, or 0.67%, to 28,675.89. The S&P 500 fell 19.49 points, or 0.60%, to 3,238.36. The Nasdaq Composite slipped 61.19 points, or 0.67%, to 9,031.00.

Oil futures jumped Friday, with the U.S. benchmark soaring to an eight-month high, after a U.S. airstrike in Iraq killed one of Iran’s top military commanders, sparking fears of an escalation of tensions in the Middle East that could disrupt the flow of crude. West Texas Intermediate crude for February delivery were up $2.16, or 3.5%, at $63.34 a barrel. March Brent crude rose $2.65, or 4%, to $68.90 a barrel.

Geopolitical escalation and conflict is expected in the region. For investors, however, the main question remains how a war between the U.S. and Iran would impact markets.

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