Stocks fell along with equity-index futures and investors rushed to the safety of havens such as Treasuries after Israel attacked Iran’s nuclear program sites. Crude oil jumped more than 9% while gold also rose.

Contracts for the S&P 500 retreated 1.7% and those for the Nasdaq 100 slumped 1.8%, as explosions were heard in Tehran. Asian stocks dropped 0.6%. Treasuries advanced with the 10-year yield dropping two basis points to 4.34%. The yen strengthened 0.3% to 143.08 against the dollar and gold rose 1%.

Israel attacked Iran in a major escalation in the standoff over Tehran’s atomic program. The attack came amid renewed questions about diplomatic efforts to resolve tensions over Iran’s atomic work. US and Iranian negotiators are scheduled to hold a sixth round of talks in Oman on Sunday, but President Donald Trump said this week he’s less confident about the chances of a deal.

Big tech stocks sank in overnight trading. Arm and Super Micro fell 4%; Intel, Tesla, Broadcom, AMD, and Amazon fell 3%; TSMC, Qualcomm, Nvidia, Palantir, Meta, Alphabet, and Apple fell 2%; Microsoft and Netflix fell 1%.

While defense, oil, and gold stocks surged in overnight trading.

Digital bank Chime Financial gained another 3% in overnight trading. The shares soared 37.4% in Nasdaq debut on Thursday.

Adobe gave a sales outlook for the current quarter that topped analysts’ estimates, but investors remain skeptical that the leader in creative software can outduel AI-focused upstarts. The shares dropped 2.6% in overnight trading.

Luxury furniture company RH surged 16.2% in overnight trading after keeping its outlook for the full year unchanged, alleviating investors’ concerns that US tariffs and a weak housing market would hurt the company’s performance.