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In a bid for safety, the U.S. ten year bond yield fell slightly to 4.35%, as traders bought American Treasuries in the face of geopolitical uncertainty.
Futures tied to the Dow Jones Industrial Average fell 504 points, or 1.17%. S&P 500 futures dropped roughly 1.25%, while Nasdaq 100 futures lost 1.35%, reported CNBC.
Stock futures fell as Israel’s defense minister Israel Katz declared a special state of emergency following an Israeli attack on Iran. Two U.S. officials said that there is no U.S. involvement or assistance, according to NBC News. Brent futures surged more than 7% on the development, while West Texas Intermediate crude futures rose 7%.
Crypto is selling off as well as many still see the asset class as a risk-on trade.
