Global markets turned sharply lower early Friday after Israel launched a large-scale airstrike on Iranian nuclear and military targets, killing several high-ranking officials. Iran responded by sending over 100 drones toward Israeli territory, sparking fears of full-scale regional escalation. Oil prices surged more than 7 percent, while gold and the U.S. dollar climbed as investors fled into traditional safe havens. U.S. stock futures fell across the board, with Dow futures dropping over 500 points, and the S&P 500 and Nasdaq futures also sliding. European markets opened in the red, echoing the risk-off sentiment, and Asian indexes closed lower after reacting to the overnight news. Defense stocks rallied in premarket trading, while bond yields held steady. Traders who had been focused on inflation and the Fed’s next move are now turning to the Middle East. The sudden geopolitical rupture has shifted the mood entirely, as markets brace for further fallout.

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