Oil prices surged and stocks slumped on Friday in the immediate hours after Israel began an attack on Iran targeting nuclear sites and senior military officers. The strike stoked concern among investors about a possible wider conflict across the Middle East,

U.S. oil benchmark prices climbed roughly 7% to about $73 a barrel, the highest level since early April. U.S. government borrowing costs climbed. Tech stocks like Nvidia and Tesla moved lower, while shares in oil and defense-industry firms like Chevron, Lockheed Martin, and Palantir traded up.