Wall St ends sharply lower as Iran retaliates against Israel attack
By Noel
Randewich and Kanchana Chakravarty
Fri June 13, 2025 7:32 PM
It was a pretty typical down day all morning reflecting the usual trade war and tariff anxiety. Then right after the noon hour, all the indexes plummeted drastically with much greater anxiety over the potential major disruption to the global markets that could well result from this brand new war between Israel and Iran. What’s puzzling is why did it take the market until noon to panic since the fighting had been going on since yesterday? Perhaps it was hopes that Iran would not retaliate so fiercely, and it has indeed been quite fierce. Today’s expert has predicted a protracted war which could have a devastating impact on global trade, especially if the critical Gulf of Hormuz is closed.
Defense stocks are way up as well as oil in expectation that the flow from the Middle East could dry up. The world changed on this Friday 13th. Israel has obviously lost all confidence that Trump’s team can negotiate a successful peace agreement with Iran since they attacked just prior to those peace talks. Rubio, it’s time to show your chops and resolve this crisis. The global markets and perhaps global peace itself may well depend on it. Today’s one upside is that volume came in very close to the average, closing today at 17.9 billion vs 18.2 indicating that the panic may not be as dramatic as it appears. It will be a very interesting weekend, and week ahead.
DJ: 42,967.62 +101.85 NAS: 19,662.48
+46.61 S&P: 6,045.26
+23.02 6/12
DJ: 42,197.79 -769.83 NAS: 19,406.83
-255.66 S&P: 5,976.97
-68.29 6/13
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