When US President Donald Trump ordered an airstrike that killed Iranian general Qassem Soleimani, he also unleashed a shockwave through global financial markets. Major stock indices cratered as investors fled into safe-haven assets like gold, and oil prices spiked on fears of Iranian retaliation.
Shortly after 10:30 am ET, the Dow Jones Industrial Average had careened 207.31 points lower, sliding to 28,661.49 for a loss of 207.31 points. The S&P 500 dropped 0.64% to 3,236.93. Nine of 11 sectors reported losses; even energy stocks relinquished earlier gains to trade in the red.
The Nasdaq plunged 0.68% to 9,030.37. The index’s losses would have been heavier had they not been offset by a massive 4.65% rally in Tesla stock. European stocks also declined. The STOXX 600 index fell 0.51% to 417.60, and the German Dax slid 1.35% to 1,3205.04.