U.S. stocks fell sharply on Friday. At the close of New York trading, the Dow Jones Industrial Average was 45,167 points, down 1.7 percent from the previous day. A few minutes earlier the broader S&P 500 stood at roughly 6,369 points, also slipping 1.7 percent, while the Nasdaq 100 was around 23,133 points, down 1.9 percent.
The conflict between the United States and Israel over Iran continues to dominate market sentiment. Investors no longer expect the Federal Reserve to lower the federal funds rate this year in the way former President Donald Trump had wanted. According to the CME FedWatch Tool, the odds of a rate change are now slim, though markets are pricing in a modest hike in October.
On the currency front, the euro was a touch weaker on Friday night. One euro exchanged for 1.1515 U.S. dollars, meaning one dollar traded for 0.8684 euros. Gold also jumped in the evening; a fine ounce fetched about $4,505, up 2.3 percent, which translates to roughly €125.79 per gram. Oil made a similar climb, with Brent crude trading around $113.30 per barrel at 21:00 German time, a 4.9 percent increase from the previous close.