- US stocks fell on Friday following reports of a potential Iranian attack against Israel.
- Fears of an escalation of tensions in the Middle East sent oil prices higher and interest rates lower.
- Investors also digested the first batch of first-quarter earnings, and they weren't impressed.
US stocks sold off on Friday, with the Dow Jones Industrial Average dropping by nearly 500 points amid fears of a possible Iranian attack against Israel.
US intelligence reports indicated that$4 was imminent within the next few days. The reports, which was confirmed by a US official, specified that a potential drone strike against Israel could target "possibly on Israeli soil" rather than Israeli interests outside of the country.
Such an attack would come shortly after Israel launched a missile strike that killed seven Iranian military personnel in Syria.
Fears of an $4 and bond yields lower.
Investors also digested the first batch of first-quarter earnings results, and they weren't impressed. Mega-banks JPMorgan, Wells Fargo, and Citigroup all reported better than expected results, but saw significant sell-offs in their stocks, with JPMorgan falling more than 6%.
Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:
- S&P 500>$4: 5,123.41, down 1.46%
- Dow Jones Industrial Average>$4: 37,983.24, down 1.24 (-475.84 points)
- Nasdaq Composite>$4: 16,175.09, down 1.62%
Here's what else happened today:
- $4 according to a new note from Bank of America.
- $4 according to Bank of America.
- $4 if it wants its stock price to recover from a nasty sell-off.
- On the inflation front, US import prices rose for the third month in a row in March, slightly above consensus estimates at 0.4% month-over-month. Nearly all of the increase in import prices has been driven by the recent surge in oil prices.
In commodities, bonds, and crypto: