Major Wall Street stock indices opened sharply lower on Monday as investors braced for a protracted Middle East conflict. The downturn follows joint US-Israeli strikes on Iran that resulted in the death of its Supreme Leader, triggering a geopolitical crisis.
In retaliation, Tehran launched a barrage of missiles targeting Israel and American bases throughout the Gulf. This escalation threatens to paralyze global trade routes and reignite stifling inflationary pressures.
At the opening bell, the Dow Jones Industrial Average fell 183.5 points, or 0.37%, to 48,794.42. The S&P 500 fell 54.5 points, or 0.79%, to 6,824.36, while the Nasdaq Composite dropped 346.1 points, or 1.53%, to 22,322.119.
Seeking stability amid the chaos, investors have pivoted toward traditional safe-haven assets, fueling a surge in gold, US Treasuries, and the dollar as the global economic outlook darkens.