Global Markets Shaken by Israel-Iran Conflict

In a dramatic turn of events, global financial markets were rocked on Friday as Israel launched a military strike against Iran. The move led to a sharp selloff in U.S. futures, contributing to a dip in stocks across Asia, with Japan's Nikkei and South Korea's KOSPI affected.

Following the attack, oil prices spiked significantly; Brent crude surged over 6% to $73.56 per barrel. Investors quickly sought refuge in traditional safe havens, propelling gold prices up 1% and strengthening the Swiss franc and Japanese yen against the U.S. dollar.

The geopolitical conflict poses increasing risks of escalation in the Middle East, a vital oil-producing region. In parallel, tensions with U.S. President Donald Trump's trade policy reshuffles continue to pressure financial markets as ongoing nuclear negotiations with Iran face deadlocks.

(With inputs from agencies.)