Stocks fell sharply on Friday after the U.S. confirmed that an airstrike killed Iran’s top military commander, sending oil prices surging and hiking geopolitical concerns.
The Dow Jones Industrial Average plunged 212 points, or 0.8%. The S&P 500 slid 0.8% along with the Nasdaq Composite. The Dow briefly dropped more than 360 points at the open.
U.S. crude oil futures shot up around 3.5% to $63.31 per barrel, raising concerns about an energy shock on the global economy. Airline stocks fell broadly on the threat of higher oil prices. United, American and Delta all dropped more than 2%.