Wall Street suffered its worst day in almost three months on Thursday, as reports that the United States and Israel are drawing up plans for possible new strikes on Iran collided with growing nerves over the artificial intelligence boom — sending stocks tumbling and oil prices rocketing to their highest level in months.
The S&P 500 fell 1.3% and the tech-heavy Nasdaq plunged 2.5%, wiping hundreds of billions of dollars off the value of US companies in a single session. The Dow Jones ended the day roughly flat, but the damage in technology shares was severe, and by the closing bell the sell-off had spread to markets in Europe and Asia as well.
War Plans After the Midterms
According to reporting by The New York Times, Washington and Israel have developed plans for possible renewed attacks on Iran once the US midterm elections are out of the way on November 3. The potential targets are said to include Iran’s nuclear facilities, its energy infrastructure, and its missile and drone capabilities, and the two allies have stepped up joint exercises in recent weeks, including flights over Iraq to practise strike manoeuvres.
Other reporting, citing Axios and regional media, describes joint US-Israeli air exercises close to Iran’s borders modelled on last summer’s Operation Midnight Hammer, with possible targets said to include the underground tunnels at the Fordow nuclear site, Qeshm Island near the Strait of Hormuz, and Kharg Island — the terminal that handles the bulk of Iran’s oil exports. The United States has also been reducing diplomatic staff in the region while naval forces move into position, according to the same reports.
Officials stress that no attack has been ordered. But the timing in the reports — after the elections — has put the weeks following November 3 firmly in focus, and left investors asking whether the preparations will become orders, or whether diplomacy will open a door first.
Tech Giants Lead the Slide
The war fears landed on a market already wobbling over AI. Meta shares slid sharply after the social media giant’s results landed, falling more than 6% at the worst point of the day, and Tesla dropped despite beating earnings expectations — a sign of how worried investors have become about the staggering sums the tech giants are pouring into data centres and AI infrastructure, and how long it will take for those billions to pay off.
Chip stocks were hit hard, with the semiconductor sector down more than 3% and equipment maker Lam Research tumbling after a disappointing outlook. Bitcoin slid to around $81,600, gold fell about 2% to roughly $4,075 an ounce, and the yield on the 10-year Treasury note eased to about 5.05% as traders weighed whether the Federal Reserve will be forced to keep interest rates higher for longer.
Oil Shock Raises Fears for Households
It was the oil market that reacted most violently. Brent crude, the global benchmark, jumped around 4% to trade above $113 a barrel — its highest level in five months — as traders priced in the risk that a strike on Iran’s energy infrastructure, or trouble in the Strait of Hormuz, could choke off a vital slice of world supply.
For American families, the consequences of a sustained oil spike arrive quickly: at the gas pump, in delivery costs, and in the price of almost everything that moves by truck or plane. Higher energy prices would also fan inflation just as the midterm campaign reaches its climax, with President Donald Trump and former President Barack Obama both on the trail and the cost of living at the top of voters’ concerns.
What Happens Next
Much now depends on the next few days. Traders will be watching Friday’s session for signs of panic or bargain-hunting, oil markets for any sign the spike is becoming a surge, and Washington and Tehran for any statement that cools — or confirms — the war talk.
For now, nothing has been decided in public. But with battle plans reportedly drawn, warships moving and the world’s markets already voting with their feet, the countdown to November 3 suddenly looks like the most dangerous date on the calendar.
Bas itna hi: jet wali photo “War Plans” wale hisse ke baad aur oil wali photo oil wale hisse mein laga dein, featured image NYSE wali rakhein.
