Dow falls 475 points as Israel braces for a possible attack from Iran

• US stocks fell on Friday after reports of a possible Iranian attack on Israel.

• Fears of an escalation of tensions in the Middle East led to higher oil prices and lower interest rates.

• Investors also digested the first quarter earnings figures and were not impressed.

US stocks sold off on Friday, with the Dow Jones Industrial Average falling nearly 500 points on fears of a possible Iranian attack on Israel.

American intelligence reports indicated thata possible attack on Israel by Iran or its allies would be inevitable in the coming days. The reports, which were confirmed by a US official, specified that a possible drone strike on Israel could “potentially target Israeli territory” rather than Israeli interests outside the country.

Such an attack would take place shortly after Israel launched a rocket attack that killed seven Iranian soldiers in Syria.

Fear one Oil prices rose due to the escalation of tensions in the Middle East and bond yields lower.

Investors also digested the first set of first-quarter earnings results and were unimpressed. Megabanks JPMorgan, Wells Fargo and Citigroup all reported better-than-expected results but saw significant sell-offs in their shares, with JPMorgan down more than 6%.

Here’s where the US indexes stood at 4pm on Friday:

Here’s what else happened today:

In commodities, bonds and crypto:

• West Texas average crude rose 0.49% to $85.44 a barrel. Brent crude oilthe international benchmark, rose 0.48% to $90.17 per barrel.

• Gold fell 0.57% to $2,359.40 an ounce.

• The yield on ten-year government bonds fell by 6 basis points to 4.52%.

• Bitcoin fell 4.50% to $66,874.

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