Stocks plummet, gold and oil prices soar after Israel strikes Iran

Summary Global markets suffer a strong impact after the Israeli attack on Iran, with stock markets falling, gold and oil rising, and economic and geopolitical tensions intensifying.

Shares plunged in the early hours of Asian trading on Friday, the 13th, as selling in US futures intensified and oil and gold prices soared -- reflections of Israel's air strikes on Iranian military targets .

The bombings have prompted investors to seek refuge in gold and the Swiss franc as the Middle East, a major oil-producing region, experiences an escalation in military tensions.

Furthermore, the new conflict adds fuel to the pressures on the global economy and financial markets caused by Donald Trump's economic policies.

Early in Asian trading, U.S. S&P E-mini futures fell 1.5%, while Nasdaq futures fell 1.7%. Japan's Nikkei index fell 1.4%, while South Korea's KOSPI fell 1.2%.

On the other hand, Brent crude rose more than 6% to $73.56 per barrel. Gold rose 1% to $3,419 per ounce.

Attack on Iran

Earlier on Thursday, the Israel Defense Forces confirmed a 'preemptive, precise and concerted offensive against Iran's nuclear program'. According to Iranian media, buildings on the outskirts of the capital Tehran were hit .

In a post on X, the IDF confirmed that 'dozens of jets' from the Israeli air force completed 'the first stage of strikes' targeting military installations, including nuclear targets, in different areas of Iran.

"Today, Iran is closer than ever to obtaining a nuclear warhead. Weapons of mass destruction in the hands of the Iranian regime pose a substantial threat to the State of Israel and the entire world. The State of Israel has no choice but to fulfill its obligation to act in defense of its citizens and will continue to do so wherever necessary, as we have done in the past," the IDF stated.

The United States, in turn, denied involvement in the attack and classified the act as 'unilateral' on the part of Israel against Iran. According to Secretary of State Marco Rubio, the government's priority is 'protecting American forces in the region'.

"Tonight, Israel acted unilaterally against Iran. We are not involved in attacks against Iran, and our top priority is to protect American forces in the region. Let me be clear: Iran must not target U.S. assets or individuals," Rubio said.