All Three Major Indexes Fall More Than 1%
The New York stock market showed a sharp decline amid news that a military conflict between Iran and Israel is imminent.
On the 12th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 37,983.24, down 475.84 points (1.24%) from the previous session.
The Standard & Poor's (S&P) 500 index fell 75.65 points (1.46%) to 5,123.41, and the Nasdaq index dropped 267.10 points (1.62%) to 16,175.09 compared to the previous session.
On that day, the market focused on reports that Iran could attack Israel within 48 hours. According to foreign media such as The Wall Street Journal (WSJ), Israel is reportedly preparing for a direct Iranian attack on its territory within the next 24 to 48 hours.
As investor sentiment sharply contracted, a preference for safe-haven assets spread throughout the market.
All three major indices fell more than 1% that day. The Dow index at one point during the session widened its losses to over 500 points.
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