Dow Drops 770 Points as Israel-Iran Conflict Sparks Oil Surge

Stock markets fell sharply as escalating conflict between Israel and Iran heightened concerns about global economic stability and oil supply disruptions. The Dow Jones Industrial Average dropped about 1.8%, losing roughly 770 points, while the S&P 500 and Nasdaq also declined significantly. The tensions followed Israeli airstrikes on Iran's nuclear and military sites, with Iran responding by launching missiles and drones toward Israel. Oil prices surged more than 7%, with U.S. crude and Brent crude climbing due to fears that the conflict could disrupt Iranian oil exports and potentially the critical Strait of Hormuz shipping route. President Trump supported Israel's actions and criticized Iran for not taking advantage of a recent U.S. offer for negotiations. Analysts warn that the situation could persist for weeks, sustaining volatility in both equity and oil markets amid uncertainty about the conflict's escalation.