Oil prices jump and Dow plummets 1.8% after Israel’s attack on Iran stokes fears of wider war

Oil prices surged and the Dow dropped sharply—down 1.8%—after Israel’s strike on Iran sparked fears of a broader conflict in the Middle East. Defense stocks got a boost (no surprise there), but airlines and other fuel-heavy industries took a hit. Investors are clearly rattled by the prospect of escalating tensions disrupting global oil supplies.