Threats of Iranian retaliation against Israel once again sparked a selloff in stocks.
Reports that Israel is bracing for an imminent attack by Iran sparked a scramble for safety across markets on Friday, inspiring traders to dump stocks in favor of Treasury bonds, gold and the U.S. dollar.
The selloff was initially driven by a report in the Wall Street Journal that said Israel was bracing for an Iranian strike that could arrive as soon as Friday or Saturday. It bore a strong resemblance to the market reaction on April 4, which caused stocks to plunge in afternoon trading on a similar warning from Israel.
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0113-SI00XLAP 04262024