Latest Market Movements TodayMajor Indexes Drop Amid Israel-Iran Conflict
U.S. stock markets are sharply lower in midday trading on Friday, June 13, 2025, as escalating tensions between Israel and Iran rattle global markets and send oil prices soaring. The geopolitical crisis has overshadowed recent positive economic data and trade developments that had previously fueled market optimism.
The Dow Jones Industrial Average plunged 602 points or 1.40% to 42,365.03 by midday, while the S&P 500 fell 52.63 points or 0.87% to 5,992.63. The tech-heavy Nasdaq Composite dropped 179.21 points or 0.91% to 19,483.27.
“Today’s market selloff is directly tied to the overnight escalation in the Middle East,” said market strategist Emma Chen at Capital Advisors. “Investors are moving to safe-haven assets while they assess the potential impact on global oil supplies and broader economic implications.”
Oil Prices Surge as Middle East Tensions Flare
Crude oil futures have spiked dramatically following Israel’s airstrikes against Iran’s nuclear program. West Texas Intermediate crude, the U.S. benchmark, surged more than 8% to around $73.50 per barrel after briefly touching $77.60 earlier in the session – the highest level seen in months.
The conflict intensified overnight when Israel carried out airstrikes against Iran, killing Iran’s most senior military official and the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps. Iran responded by launching approximately 100 drones toward Israel, according to reports.
Energy stocks are among the few gainers today, with Occidental Petroleum (OXY) up 2.41%, Exxon Mobil (XOM) gaining 1.48%, and Chevron (CVX) edging up 0.23%.
Tech Stocks Under Pressure
Technology stocks, which had been leading the market’s recent gains, are facing significant pressure today. Nvidia (NVDA), which had rallied 1.5% in yesterday’s session, is down 1.24% in midday trading. Other tech giants are also struggling, with Apple (AAPL) falling 1.04% and Microsoft (MSFT) dipping 0.09%.
Tesla (TSLA) shares are down 0.71% today, continuing a challenging year for the electric vehicle manufacturer which has seen its stock decline 26.9% year-to-date through early June.
“The tech sector had been showing signs of recovery after underperforming earlier this year,” noted market analyst David Wong. “Today’s geopolitical shock has investors reassessing risk across all sectors, but particularly in growth-oriented technology stocks.”
Upcoming Market Events to Watch
Despite today’s market turbulence, investors are looking ahead to several key economic events next week that could influence market direction:
The Federal Reserve’s interest rate decision is scheduled for Wednesday, June 18, with consensus expectations that the Fed will maintain its current rate of 4.5%. The FOMC economic projections will be closely watched for signals about future rate cuts.
Tuesday will bring important retail sales data for May, with economists expecting a modest 0.2% increase month-over-month, following April’s 0.1% gain. This report will provide crucial insights into consumer spending patterns.
The Consumer Price Index (CPI) for May is set to be released on Wednesday, June 11, with forecasts pointing to a 0.2% monthly increase and a 2.3% year-over-year rise, potentially supporting the case for Fed rate cuts later this year.
Market Breadth Improving Despite Today’s Selloff
While today’s market action is dominated by geopolitical concerns, analysts note that market breadth has been improving in 2025 compared to previous years. Through early June, approximately 46% of companies in the S&P 500 were outperforming the broader index, a significant improvement from the narrow market leadership of recent years.
“The health of the broader economy has been improving, as evidenced by the wider participation in this year’s market,” said Richard Bernstein, CEO of Richard Bernstein Advisors. “Today’s selloff is concerning, but the underlying market structure is more resilient than in previous years.”
Looking Ahead: Market News Today
Investors are also digesting news of an Air India Boeing 787 Dreamliner crash that killed 241 of the 242 people on board. This marks the first fatal crash of the popular wide-body aircraft, adding further pressure to Boeing’s shares, which had already been declining following the incident.
The VIX, often referred to as Wall Street’s “fear gauge,” has spiked 10.87% to 19.98, reflecting heightened market anxiety about the geopolitical situation.
As markets navigate through today’s volatility, traders will be closely monitoring weekend developments in the Middle East and positioning themselves for next week’s economic data releases and the critical Fed meeting.
“While today’s market action is certainly concerning, long-term investors should remember that geopolitical shocks typically have a temporary impact on markets,” advised financial planner Sarah Johnson. “The focus should remain on economic fundamentals, which have been gradually improving despite today’s headlines.”