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The Dow Jones Industrial Average fell 0.67%, while the S&P 500 declined 0.82%. Besides this, the Nasdaq Composite fell 1.4% in early trade.At 19:10 IST, oil prices were trading higher across the board. WTI Crude rose to $97.58, up $1.26 or 1.31%, while Brent Crude climbed to $112.7, gaining $5.27 or 4.91%.Murban Crude surged to $128.8, up $12.07 or 10.34%, and Natural Gas advanced to $3.243, rising $0.178 or 5.81%.

Shares of Rivian surged nearly 10% in pre-market trade after Uber said it will invest up to $1.25 billion in the EV maker.

As part of the deal, Uber will get access to as many as 50,000 fully autonomous vehicles from Rivian, marking a major push into the robotaxi space.

While Rivian stock rallied sharply on the news, Uber’s shares were largely unchanged in early trading.

US stocks opened in the red on Friday, with broader weakness across major indices.

The Dow Jones Industrial Average fell 0.67%, while the S&P 500 declined 0.82%. Besides this, the Nasdaq Composite fell 1.4% in early trade.

US Defense Secretary Pete Hegseth on Thursday said the Pentagon’s reported $200 billion funding request for a potential Iran war effort is not final and could still change.

Speaking at a press briefing, Hegseth did not confirm the exact figure but acknowledged that the funding needs are under discussion. The estimate was first reported by The Washington Post.

“It takes money to kill bad guys,” Hegseth said, underlining the need for adequate military funding.

The US Federal Reserve left interest rates unchanged and tweaked its economic projections, with Chair Jerome Powell highlighting a cautious and data-dependent stance going ahead.

The Fed offered limited forward guidance, with minor changes in its statement and a modestly dovish tilt in the dot plot. Powell repeatedly underscored the uncertain outlook, signalling a wait-and-watch approach.

Powell flagged the US–Iran conflict as a key risk, saying the oil shock has complicated policymaking. He noted that the economic impact remains unclear and could vary significantly.

European natural gas prices jumped sharply, with futures surging over 17% after fresh attacks on critical energy infrastructure in West Asia. Strikes on Iran’s South Pars gas field and reported damage at QatarEnergy’s Ras Laffan LNG export complex — the world’s largest — triggered fears of supply disruptions.

The escalation marks a sharp intensification in the conflict, with energy assets increasingly coming under attack over the past 24 hours. The South Pars field, shared by Iran and Qatar, is among the world’s largest gas reserves, raising concerns over prolonged disruptions to global LNG flows. here

US Federal Reserve Chair Jerome Powell said he will continue in his role beyond the end of his term in May if nominee Kevin Warsh is not confirmed in time. Powell noted that under existing law, he would serve as chair on an interim basis until a successor is formally approved.

He also said he intends to remain on the Federal Reserve’s Board of Governors until an ongoing Department of Justice probe is concluded with full transparency. for key takeaways from the Fed meeting.

Precious metals came under pressure on Thursday, with gold and silver extending losses amid a broader global sell-off driven by escalating West Asia tensions and rising inflation concerns.

Spot gold fell 2% to $4,718.60 per ounce, while front-month futures dropped 3.8% to $4,709.90. Silver saw sharper declines, with spot prices down 5% to $71.53, and futures slipping 7.7%, reflecting heightened volatility across commodities.

Oil and gas prices spiked sharply as escalating attacks in West Asia heightened fears of prolonged disruptions to critical energy infrastructure.

Brent crude futures surged nearly 11% to $119.11 per barrel, while US West Texas Intermediate crude rose 3% to $99.29, reflecting growing concerns over supply risks.

Natural gas markets also rallied, with US gas prices jumping 5.1% to $3.22 per MMBtu, while Europe’s TTF benchmark climbed 24% to €68.22 per MWh, signalling deepening stress across global energy markets.

European equities declined sharply on Thursday, with the pan-European Stoxx 600 falling 1.7%, as escalating tensions in West Asia weighed on investor sentiment. Most major regional indices traded lower, with selling seen across sectors.

The weakness was broad-based, with all sectors in the red except oil and gas, which gained on the back of rising crude prices. The surge in energy costs has raised concerns over inflation and its impact on growth.

Basic resources stocks led the decline, with mining majors Antofagasta and Fresnillo falling over 6% each, as investors factored in margin pressure from higher input costs and a challenging macro environment.

Wall Street closed sharply lower on Wednesday, with the Dow Jones Industrial Average falling 768 points (1.6%) to a fresh closing low for 2026. The index also slipped below its 200-day moving average, signalling a potential shift in the longer-term trend. The S&P 500 declined 1.4%, while the Nasdaq Composite dropped 1.5%.

The sell-off was triggered by a stronger-than-expected producer prices report, which heightened inflation concerns and raised doubts over the Federal Reserve’s rate-cut trajectory. The data reinforced fears that price pressures may remain elevated for longer.

Escalating geopolitical tensions, particularly the Iran conflict, added to market anxiety, fuelling concerns of a possible stagflationary environment — slower growth alongside persistent inflation. Markets are now pricing in a higher likelihood of the Fed staying on hold, with odds seen at 52% for 2026, despite earlier expectations of easing.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.