Key Facts
• June 13: Dow Jones Industrial Average fell 769 points (-1.79%).
• Trigger: Israel launched preemptive strikes on Iran’s nuclear and missile facilities.
• Oil prices surged ~7% due to concerns over disrupted Middle East oil supply.
• Defense stocks rose: Lockheed Martin (+3%), RTX (+3%), Northrop Grumman (+3%).
• Energy stocks gained: ExxonMobil (+2.2%), Diamondback Energy (+3.7%).
• Airline stocks dropped: Delta (-3.8%), United (-4.4%), American Airlines (-4.9%).
• Adobe fell 5.3% over concerns about slow AI adoption.
• Oracle surged 7.7%, reaching a record high due to strong AI-driven demand.
• S&P 500 sectors: 10 out of 11 declined; financials (-2.06%), IT (-1.5%).
• VIX Index rose 15.5% to 20.82, reflecting heightened market volatility.
• Total trading volume: 17.9 billion shares (20-day average: 18.2 billion).
Summary
The U.S. stock market experienced a sharp decline on June 13, with the Dow Jones Industrial Average dropping 769 points (-1.79%) amid escalating tensions in the Middle East. Israel’s preemptive strikes on Iran’s nuclear and missile facilities heightened global concerns, leading to a 7% surge in oil prices. Energy and defense stocks saw gains, while airline stocks fell due to rising jet fuel costs. Oracle’s strong AI-driven performance boosted its stock by 7.7%, while Adobe dropped 5.3% over slow AI adoption concerns. The S&P 500 saw declines in 10 of its 11 sectors, with financials and IT leading losses. Market volatility spiked, as reflected in the VIX Index’s 15.5% increase to 20.82. Trading volume reached 17.9 billion shares, slightly below the 20-day average of 18.2 billion.
