Fears of Potential Iranian Attack , Drive US Stocks Down , Nearly 500 Points.<br />CNN reports that United States stocks dropped on <br />April 12 amid rising tensions in the Middle East pushing <br />traders to seek safe havens like gold and bonds.<br />CNN reports that United States stocks dropped on <br />April 12 amid rising tensions in the Middle East pushing <br />traders to seek safe havens like gold and bonds.<br />By mid-afternoon, the Dow had fallen <br />1.4%, the S&P 500 went down 1.6%, <br />and the Nasdaq dropped 1.8%.<br />The dip came after the White House announced <br />that both the U.S. and Israel are on alert for <br />a potential attack by Iran or its allies.<br />The dip came after the White House announced <br />that both the U.S. and Israel are on alert for <br />a potential attack by Iran or its allies.<br />The warning comes after Iran <br />accused Israel of a deadly airstrike <br />on a consulate in Damascus, Syria. .<br />The news also sent oil prices up amid <br />fears of regional tensions escalating <br />as a result of the ongoing war in Gaza. .<br />The news also sent oil prices up amid <br />fears of regional tensions escalating <br />as a result of the ongoing war in Gaza. .<br />Brent crude futures jumped up to $90.42 <br />a barrel, and West Texas Intermediate crude <br />futures increased to $86.65 a barrel.<br />Those geopolitical concerns and subsequent <br />rising oil prices sent investors to safe havens like <br />gold futures, which rose to $2,379 a troy ounce.<br />Those geopolitical concerns and subsequent <br />rising oil prices sent investors to safe havens like <br />gold futures, which rose to $2,379 a troy ounce.<br />CNN reports that Americans' opinions of <br />the economy have dipped in the past few <br />months amid persistently high inflation.<br />The geopolitical fears come as investors are already <br />contending with concerns that the Federal Reserve could <br />wait to bring interest rates down from a 23-year high.<br />Officials at the Fed have signaled that further rate <br />hikes could still be on the way if the central <br />bank's efforts to fight inflation stall.
