U.S. markets ended a choppy week on a cautious note, as modest gains through Thursday reversed sharply on Friday after escalating tensions between Israel and Iran rattled investor sentiment.
Major equity indices, which had been hovering near all-time highs, pulled back as geopolitical risks surged back to the forefront.
The S&P 500 – as tracked by the Vanguard S&P 500 ETF (NYSE:VOO) – ended 1.1% lower for the week, falling below the 6,000-point threshold.
Oil’s Back In Focus—And Gold Is Eyeing New Highs
Late Thursday, Israel launched “Operation Rising Lion,” a sweeping aerial campaign targeting approximately 100 Iranian nuclear and military installations, reportedly killing several high-ranking officials. Iran responded by launching over 100 drones toward Israeli territory and vowed severe retaliation, raising fears of a broader regional escalation.
Oil markets reacted swiftly: West Texas Intermediate crude …