Oil prices jump 7% and stocks drop
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The Dow dropped more than 750 points Friday as investors fret over the risk of a widening war in the Middle East.
Oil surged, stocks fell and investors sought safety in the U.S. dollar and government bonds after Israel struck Iranian nuclear and military targets in an attack that raised the risk of all-out war between them.
Gas prices "will likely start to rise across much of the country later this evening in response to Israel's attacks on Iran, which have caused oil prices to surge," Patrick de Haan, the head of petroleum analysis at GasBuddy, said on Friday in a post on X.
Israel’s stunning attacks on Iran’s nuclear program and military leadership are embroiling the Middle East in another deadly war — and could imperil President Donald Trump’s pledge to slash oil prices for American consumers.
Israel has warned of more attacks on Iran after Iran's deadly retaliatory missile strikes on Israel overnight and into Saturday